§1234. Options to buy or sell — Inbound Citations
26 U.S.C. § 1234
Cited by 2 provisions in release 119-102.
Citations to 26 U.S.C. § 1234 as a whole
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(d) If on the date of such short sale substantially identical property has been held by the taxpayer for more than 1 year, any loss on the closing of such short sale shall be considered as a loss on the sale or exchange of a capital asset held for more than 1 year (notwithstanding the period of time any property used to close such short sale has been held, and notwithstanding section 1234).
Citations to §1234(b)(2)(A)
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(2) In the case of the lapse (or closing transaction (as defined in section 1234(b)(2)(A))) of an option on a specified security or the exercise of a cash-settled option on a specified security, reporting under subsections (a) and (g) with respect to such option shall be made for the calendar year which includes the date of such lapse, closing transaction, or exercise.