Editorial Notes
Amendments
2002—Subsec. (e)(2)(E). Pub. L. 107–147 added subpar. (E).
2000—Subsec. (e)(2)(D). Pub. L. 106–554 added subpar. (D).
1997—Subsec. (h). Pub. L. 105–34 added subsec. (h).
1984—Subsecs. (b), (d), (e)(4)(A)(i). Pub. L. 98–369 substituted “6 months” for “1 year” wherever appearing, applicable to property acquired after June 22, 1984, and before Jan. 1, 1988. See Effective Date of 1984 Amendment note below.
1981—Subsec. (e)(2)(A). Pub. L. 97–34 inserted “, but does not include any position to which section 1092(b) applies” after “taxpayer”.
1976—Subsec. (b). Pub. L. 94–455, § 1402(b)(2), provided that “9 months” would be changed to “1 year”.
Pub. L. 94–455, § 1402(b)(1)(T), (2), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.
Subsec. (c). Pub. L. 94–455, § 1901(a)(137), substituted “August 16, 1954” for “the date of enactment of this title”.
Subsecs. (d), (e)(4)(A)(i). Pub. L. 94–455, § 1402(b)(2), provided that “9 months” would be changed to “1 year”.
Pub. L. 94–455, § 1402(b)(1)(T), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.
1958—Subsec. (a). Pub. L. 85–866, § 52(b), struck out “, other than a hedging transaction in commodity futures,” after “sale of property”.
Subsec. (e)(4). Pub. L. 85–866, § 52(a), added par. (4).
Subsec. (g). Pub. L. 85–866, § 52(b), added subsec. (g).
1955—Subsec. (f). Act Aug. 12, 1955, added subsec. (f).
Statutory Notes and Related Subsidiaries
Effective Date of 1997 Amendment
Pub. L. 105–34, title X, § 1003(b)(2), Aug. 5, 1997, 111 Stat. 910, provided that:
“The amendment made by paragraph (1) [amending this section] shall apply to
property which becomes substantially worthless after the date of the enactment of this Act [
Aug. 5, 1997].”
Effective Date of 1976 Amendment
Pub. L. 94–455, title XIV, § 1402(b)(1), Oct. 4, 1976, 90 Stat. 1731, provided that the amendment made by that section is effective with respect to taxable years beginning in 1977.
Pub. L. 94–455, title XIV, § 1402(b)(2), Oct. 4, 1976, 90 Stat. 1732, provided that the amendment made by that section is effective with respect to taxable years beginning after Dec. 31, 1977.
Amendment by section 1901(a)(137) of Pub. L. 94–455 applicable with respect to taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as a note under section 2 of this title.
Effective Date of 1958 Amendment
Amendment by section 52(b) of Pub. L. 85–866 applicable to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, see section 1(c)(1) of Pub. L. 85–866, set out as a note under section 165 of this title.
Pub. L. 85–866, title I, § 52(c), Sept. 2, 1958, 72 Stat. 1644, provided that:
“The amendment made by subsection (a) [amending this section] shall apply with respect to short sales made after December 31, 1957.”
Effective Date of 1955 Amendment
Act Aug. 12, 1955, ch. 871, § 2, 69 Stat. 718, provided that:
“The amendment made by the first section of this Act [amending this section] shall apply only with respect to taxable years ending after the date of the enactment of this Act [
Aug. 12, 1955] and only in the case of a short sale of
property made by the taxpayer after such date.”