Denial of capital gain treatment for gains on certain obligations not in registered form

U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2023 Edition Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter P - Capital Gains and Losses PART V - SPECIAL RULES FOR BONDS AND OTHER DEBT INSTRUMENTS Subpart D - Miscellaneous Provisions Sec. 1287 - Denial of capital gain treatment for gains on certain obligations not in registered form From the U.S. Government Publishing Office, www.gpo.gov

§1287. Denial of capital gain treatment for gains on certain obligations not in registered form

(a) In general If any registration-required obligation is not in registered form, any gain on the sale or other disposition of such obligation shall be treated as ordinary income (unless the issuance of such obligation was subject to tax under section 4701). (b) Definitions For purposes of subsection (a)— (1) Registration-required obligation The term "registration-required obligation" has the meaning given to such term by section 163(f)(2). (2) Registered form The term "registered form" has the same meaning as when used in section 163(f).

(Added Pub. L. 98–369, div. A, title I, §41(a), July 18, 1984, 98 Stat. 552; amended Pub. L. 111–147, title V, §502(a)(2)(D), Mar. 18, 2010, 124 Stat. 107.)

Editorial Notes

Amendments 2010—Subsec. (b)(1). Pub. L. 111–147 struck out "except that clause (iv) of subparagraph (A), and subparagraph (B), of such section shall not apply" before period.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment Amendment by Pub. L. 111–147 applicable to obligations issued after the date which is 2 years after Mar. 18, 2010, see section 502(f) of Pub. L. 111–147, set out as a note under section 149 of this title.

Effective Date Section applicable to taxable years ending after July 18, 1984, except as otherwise provided, see section 44 of Pub. L. 98–369, set out as a note under section 1271 of this title.