§1276. Disposition gain representing accrued market discount treated as ordinary income — Inbound Citations
26 U.S.C. § 1276
Cited by 10 provisions in release 119-102.
Citations to 26 U.S.C. § 1276 as a whole
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(ii) any amount treated as ordinary income under section 1271(a)(3)(A), 1276, or 1281(a) with respect to such property for the taxable year,
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(iii) Clause (i) shall not apply to any bond issued pursuant to a plan of reorganization (within the meaning of section 368(a)(1)) in exchange for another bond having market discount. Solely for purposes of section 1276, the preceding sentence shall not apply if such other bond was issued on or before July 18, 1984 (the date of the enactment of section 1276) and if the bond issued pursuant to such plan of reorganization has the same term and the same interest rate as such other bond had.
Citations to §1276(a)
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(B) market discount on any market discount bond shall be included in gross income for the taxable years to which it is attributable as determined under the rules of section 1276(b)(2) (and sections 1276(a) and 1277 shall not apply),
Citations to §1276(b)
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(i) in the case of a regular interest, such excess shall be included in gross income (as determined under rules similar to rules of section 1276(b)), and
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(a) Except as otherwise provided in this section, the net direct interest expense with respect to any market discount bond shall be allowed as a deduction for the taxable year only to the extent that such expense exceeds the portion of the market discount allocable to the days during the taxable year on which such bond was held by the taxpayer (as determined under the rules of section 1276(b)).
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(B) market discount on any market discount bond shall be included in the gross income of the taxpayer for the taxable years to which it is attributable (as determined under the rules of subsection (b) of section 1276).
Citations to §1276(b)(2)
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(B) market discount on any market discount bond shall be included in gross income for the taxable years to which it is attributable as determined under the rules of section 1276(b)(2) (and sections 1276(a) and 1277 shall not apply),
Citations to §1276(c)(1)
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(I) in the case of a transaction described in section 1276(c)(1), of the transferee with respect to the transferred basis property, or
Citations to §1276(c)(2)
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(II) in the case of a transaction described in section 1276(c)(2), with respect to the exchanged basis property.