26Title 26The US tax code, read & explained

26 U.S.C. § 1287

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

99 words · amended 1 times · cited by 1 other sections

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No plain-English explainer yet. Below is the official text. Explainers are being added section by section.

History

Added in 1984 by the Deficit Reduction Act of 1984. Last changed March 18, 2010 by the Public Law 111-147.

Every change, newest first (2)
  1. March 18, 2010Public Law 111-147
  2. July 18, 1984Deficit Reduction Act of 1984 · added this section

The law as written

Current through Public Law 119-102. Amendment notes omitted.

Structure

  1. (a) In general
  2. (b) Definitions
(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).