FEDERAL · 26 U.S.C. · Chapter Subchapter O—Gain or Loss on Disposition of Property
Transfers of securities under certain agreements
26 U.S.C. § 1058
This text of 26 U.S.C. § 1058 (Transfers of securities under certain agreements) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 1058.
Text
(a)General rule
In the case of a taxpayer who transfers securities (as defined in section 1236(c)) pursuant to an agreement which meets the requirements of subsection (b), no gain or loss shall be recognized on the exchange of such securities by the taxpayer for an obligation under such agreement, or on the exchange of rights under such agreement by that taxpayer for securities identical to the securities transferred by that taxpayer.
(b)Agreement requirements
In order to meet the requirements of this subsection, an agreement shall—
(1)provide for the return to the transferor of securities identical to the securities transferred;
(2)require that payments shall be made to the transferor of amounts equivalent to all interest, dividends, and other distributions which the owner of the secu
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Source Credit
History
(Added Pub. L. 95–345, §2(d)(1), Aug. 15, 1978, 92 Stat. 482.)
Editorial Notes
Editorial Notes
Prior Provisions
A prior section 1058 was renumbered section 1063 of this title.
Statutory Notes and Related Subsidiaries
Effective Date
Section applicable with respect to amounts received after Dec. 31, 1976, as payments with respect to securities loans (as defined in section 512(a)(5) of this title), and transfers of securities, under agreements described in this section, occurring after such date, see section 2(e) of Pub. L. 95–345, set out as an Effective Date of 1978 Amendment note under section 509 of this title.
Prior Provisions
A prior section 1058 was renumbered section 1063 of this title.
Statutory Notes and Related Subsidiaries
Effective Date
Section applicable with respect to amounts received after Dec. 31, 1976, as payments with respect to securities loans (as defined in section 512(a)(5) of this title), and transfers of securities, under agreements described in this section, occurring after such date, see section 2(e) of Pub. L. 95–345, set out as an Effective Date of 1978 Amendment note under section 509 of this title.
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Bluebook (online)
26 U.S.C. § 1058, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/1058.