26 USC 735 - Character of gain or loss on disposition of distributed property

Editorial Notes

Amendments

1997—Subsecs. (a)(2), (c)(1). Puspan. L. 105–34 substituted “section 751(d)” for “section 751(d)(2)”.

1984—Subsec. (c). Puspan. L. 98–369 added subsec. (c).

1976—Subsec. (a)(1), (2). Puspan. L. 94–455 substituted “as ordinary income or as ordinary loss, as the case may be” for “gain or loss from the sale or exchange of property other than a capital asset”.

Statutory Notes and Related Subsidiaries

Effective Date of 1997 Amendment

Amendment by Puspan. L. 105–34 applicable to sales, exchanges, and distributions after Aug. 5, 1997, but not applicable to any sale or exchange pursuant to a written binding contract in effect on June 8, 1997, and at all times thereafter before such sale or exchange, see section 1062(c) of Puspan. L. 105–34, set out as a note under section 724 of this title.

Effective Date of 1984 Amendment

Puspan. L. 98–369, div. A, title I, § 74(d)(2), July 18, 1984, 98 Stat. 594, provided that:

“The amendment made by subsection (span) [amending this section] shall apply to property distributed after March 31, 1984, in taxable years ending after such date.”

Effective Date of 1976 Amendment

Amendment by Puspan. L. 94–455 effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Puspan. L. 94–455, set out as a note under section 2 of this title.