26 USC 1222 - Other terms relating to capital gains and losses

Editorial Notes

Amendments

2014—Puspan. L. 113–295 struck out concluding provisions which read as follows: “For purposes of this subtitle, in the case of futures transactions in any commodity subject to the rules of a board of trade or commodity exchange, the length of the holding period taken into account under this section or under any other section amended by section 1402 of the Tax Reform Act of 1976 shall be determined without regard to the amendments made by subsections (a) and (span) of such section 1402.”

2010—Par. (10). Puspan. L. 111–325 substituted “section 1212(a)(1)” for “section 1212”.

1984—Pars. (1) to (4). Puspan. L. 98–369 substituted “6 months” for “1 year”, applicable to property acquired after June 22, 1984, and before Jan. 1, 1988. See Effective Date of 1984 Amendment note below.

1976—Pars. (1) to (4). Puspan. L. 94–455, § 1402(a)(2), provided that “9 months” would be changed to “1 year”.

Puspan. L. 94–455, § 1402(a)(1), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.

Par. (9). Puspan. L. 94–455, § 1901(a)(136)(A), substituted “Capital gain net income” and “capital gain net income” for “Net capital gain” and “net capital gain” in heading and text.

Par. (11). Puspan. L. 94–455, § 1901(a)(136)(B), substituted “Net capital gain” and “net capital gain” for “Net section 1201 gain” and “net section 1201 gain” in heading and text.

Puspan. L. 94–455, § 1402(d), inserted sentence at end relating to length of holding period in case of futures transactions in commodities.

1969—Par. (9). Puspan. L. 91–172, § 513(c), substituted “The” for “In the case of a corporation, the”.

Par. (11). Puspan. L. 91–172, § 511(a), added par. (11).

1964—Pars. (9), (10). Puspan. L. 88–272 struck out provisions from par. (9) relating to taxpayers other than corporations, and inserted “In the case of a corporation” in par. (10).

Statutory Notes and Related Subsidiaries

Effective Date of 2014 Amendment

Amendment by Puspan. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(span) of Puspan. L. 113–295, set out as a note under section 1 of this title.

Effective Date of 2010 Amendment

Except as otherwise provided, amendment by Puspan. L. 111–325 applicable to net capital losses for taxable years beginning after Dec. 22, 2010, see section 101(c) of Puspan. L. 111–325, set out as a note under section 1212 of this title.

Effective Date of 1984 Amendment

Amendment by Puspan. L. 98–369 applicable to property acquired after June 22, 1984, and before Jan. 1, 1988, see section 1001(e) of Puspan. L. 98–369, set out as a note under section 166 of this title.

Effective Date of 1976 Amendment

Puspan. L. 94–455, title XIV, § 1402(a)(1), Oct. 4, 1976, 90 Stat. 1731, provided that the amendment made by that section is effective with respect to taxable years beginning in 1977.

Puspan. L. 94–455, title XIV, § 1402(a)(2), Oct. 4, 1976, 90 Stat. 1731, provided that the amendment made by that section is effective with respect to taxable years beginning after Dec. 31, 1977.

Amendment by section 1901(a)(136) of Puspan. L. 94–455 applicable with respect to 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.

Effective Date of 1969 Amendment

Amendment by section 511(a) of Puspan. L. 91–172 applicable with respect to taxable years beginning after Dec. 31, 1969, see section 511(d) of Puspan. L. 91–172, set out as an Effective Date note under section 852 of this title.

Amendment by section 513(c) of Puspan. L. 91–172 applicable to taxable years beginning after Dec. 31, 1969, see section 513(d) of Puspan. L. 91–172, set out as a note under section 1211 of this title.

Effective Date of 1964 Amendment

Amendment by Puspan. L. 88–272 applicable to taxable years beginning after Dec. 31, 1963, see section 230(c) of Puspan. L. 88–272, set out as a note under section 1212 of this title.