The Small Business Investment Act of 1958, referred to in cl. (1), is Puspan. L. 85–699, Aug. 21, 1958, 72 Stat. 689, as amended, which is classified principally to chapter 14B (§ 661 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 661 of Title 15 and Tables.

1976—Puspan. L. 94–455 substituted “an ordinary loss” for “a loss from the sale or exchange of property which is not a capital asset”, each time appearing.

Amendment by 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.

Section applicable with respect to taxable years beginning after Sept. 2, 1958, see section 57(d) of Puspan. L. 85–866, set out as an Effective Date of 1958 Amendment note under section 243 of this title.