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Title 26

Displaying title 26, up to date as of 9/14/2026. Title 26 was last amended 9/08/2026.
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  1. Title 26 —Internal Revenue
  2. Chapter I —Internal Revenue Service, Department of the Treasury
  3. Subchapter A —Income Tax
  4. Part 1 —Income Taxes
  5. Special Rules for Determining Capital Gains and Losses   View Full Text
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Title 26Internal RevenuePart / Section
Chapter IInternal Revenue Service, Department of the Treasury1 – 899
Subchapter AIncome Tax1 – 18
Part 1Income Taxes1.0-1 – 1.9300-1
Special Rules for Determining Capital Gains and Losses1.1231-1 – 1.1298-4
§ 1.1231-1Gains and losses from the sale or exchange of certain property used in the trade or business.
§ 1.1231-2Livestock held for draft, breeding, dairy, or sporting purposes.
§ 1.1232-1Bonds and other evidences of indebtedness; scope of section.
§ 1.1232-2 [Reserved]
§ 1.1232-3Gain upon sale or exchange of obligations issued at a discount after December 31, 1954.
§ 1.1232-3AInclusion as interest of original issue discount on certain obligations issued after May 27, 1969.
§ 1.1233-1Gains and losses from short sales.
§ 1.1233-2Hedging transactions.
§ 1.1234-1Options to buy or sell.
§ 1.1234-2Special rule for grantors of straddles applicable to certain options granted on or before September 1, 1976.
§ 1.1234-3Special rules for the treatment of grantors of certain options granted after September 1, 1976.
§ 1.1234-4Hedging transactions.
§ 1.1235-1Sale or exchange of patents.
§ 1.1235-2Definition of terms.
§ 1.1236-1Dealers in securities.
§ 1.1237-1Real property subdivided for sale.
§ 1.1238-1Amortization in excess of depreciation.
§ 1.1239-1Gain from sale or exchange of depreciable property between certain related taxpayers after October 4, 1976.
§ 1.1239-2Gain from sale or exchange of depreciable property between certain related taxpayers on or before October 4, 1976.
§ 1.1240-1Capital gains treatment of certain termination payments.
§ 1.1241-1Cancellation of lease or distributor's agreement.
§ 1.1242-1Losses on small business investment company stock.
§ 1.1243-1Loss of small business investment company.
§ 1.1244(a)-1Loss on small business stock treated as ordinary loss.
§ 1.1244(b)-1Annual limitation.
§ 1.1244(c)-1Section 1244 stock defined.
§ 1.1244(c)-2Small business corporation defined.
§ 1.1244(d)-1Contributions of property having basis in excess of value.
§ 1.1244(d)-2Increases in basis of section 1244 stock.
§ 1.1244(d)-3Stock dividend, recapitalizations, changes in name, etc.
§ 1.1244(d)-4Net operating loss deduction.
§ 1.1244(e)-1Records to be kept.
§ 1.1245-1General rule for treatment of gain from dispositions of certain depreciable property.
§ 1.1245-2Definition of recomputed basis.
§ 1.1245-3Definition of section 1245 property.
§ 1.1245-4Exceptions and limitations.
§ 1.1245-5Adjustments to basis.
§ 1.1245-6Relation of section 1245 to other sections.
§ 1.1248-1Treatment of gain from certain sales or exchanges of stock in certain foreign corporations.
§ 1.1248-2Earnings and profits attributable to a block of stock in simple cases.
§ 1.1248-3Earnings and profits attributable to stock in complex cases.
§ 1.1248-4Limitation on tax applicable to individuals.
§ 1.1248-5Stock ownership requirements for less developed country corporations.
§ 1.1248-6Sale or exchange of stock in certain domestic corporations.
§ 1.1248-7Taxpayer to establish earnings and profits and foreign taxes.
§ 1.1248-8Earnings and profits attributable to stock following certain non-recognition transactions.
§ 1.1248(f)-1Certain nonrecognition distributions.
§ 1.1248(f)-2Exceptions for certain distributions and attribution rules.
§ 1.1248(f)-3Reasonable cause and effective/applicability dates.
§ 1.1249-1Gain from certain sales or exchanges of patents, etc., to foreign corporations.
§ 1.1250-1Gain from dispositions of certain depreciable realty.
§ 1.1250-2Additional depreciation defined.
§ 1.1250-3Exceptions and limitations.
§ 1.1250-4Holding period.
§ 1.1250-5Property with two or more elements.
§ 1.1251-1General rule for treatment of gain from disposition of property used in farming where farm losses offset nonfarm income.
§ 1.1251-2Excess deductions account.
§ 1.1251-3Definitions relating to section 1251.
§ 1.1251-4Exceptions and limitations.
§ 1.1252-1General rule for treatment of gain from disposition of farm land.
§ 1.1252-2Special rules.
§ 1.1254-0Table of contents for section 1254 recapture rules.
§ 1.1254-1Treatment of gain from disposition of natural resource recapture property.
§ 1.1254-2Exceptions and limitations.
§ 1.1254-3Section 1254 costs immediately after certain acquisitions.
§ 1.1254-4Special rules for S corporations and their shareholders.
§ 1.1254-5Special rules for partnerships and their partners.
§ 1.1254-6Effective/applicability date.
§ 1.1256(e)-1Identification of hedging transactions.
§ 1.1256(e)-2Special rules for syndicates.
§ 1.1258-1Netting rule for certain conversion transactions.
§ 1.1271-0Original issue discount; effective date; table of contents.
§ 1.1271-1Special rules applicable to amounts received on retirement, sale, or exchange of debt instruments.
§ 1.1272-1Current inclusion of OID in income.
§ 1.1272-2Treatment of debt instruments purchased at a premium.
§ 1.1272-3Election by a holder to treat all interest on a debt instrument as OID.
§ 1.1273-1Definition of OID.
§ 1.1273-2Determination of issue price and issue date.
§ 1.1274-1Debt instruments to which section 1274 applies.
§ 1.1274-2Issue price of debt instruments to which section 1274 applies.
§ 1.1274-3Potentially abusive situations defined.
§ 1.1274-4Test rate.
§ 1.1274-5Assumptions.
§ 1.1274A-1Special rules for certain transactions where stated principal amount does not exceed $2,800,000.
§ 1.1275-1Definitions.
§ 1.1275-2Special rules relating to debt instruments.
§ 1.1275-3OID information reporting requirements.
§ 1.1275-4Contingent payment debt instruments.
§ 1.1275-5Variable rate debt instruments.
§ 1.1275-6Integration of qualifying debt instruments.
§ 1.1275-7Inflation-indexed debt instruments.
§ 1.1286-1Tax treatment of certain stripped bonds and stripped coupons.
§ 1.1286-2Stripped inflation-protected debt instruments.
§ 1.1287-1Denial of capital gains treatment for gains on registration-required obligations not in registered form.
§ 1.1288-1Adjustment of applicable Federal rate for tax-exempt obligations.
§ 1.1291-0Treatment of shareholders of certain passive foreign investment companies; table of contents.
§ 1.1291-1Taxation of U.S. persons that are shareholders of section 1291 funds.
§ 1.1291-9Deemed dividend election.
§ 1.1291-10Deemed sale election.
§ 1.1293-0Table of contents.
§ 1.1293-1Current taxation of income from qualified electing funds.
§ 1.1294-0Table of contents.
§ 1.1294-1TElection to extend the time for payment of tax on undistributed earnings of a qualified electing fund (temporary).
§ 1.1295-0Table of contents.
§ 1.1295-1Qualified electing funds.
§ 1.1295-3Retroactive elections.
§ 1.1296-1Mark to market election for marketable stock.
§ 1.1296-2Definition of marketable stock.
§ 1.1297-0Table of contents.
§ 1.1297-1Definition of passive foreign investment company.
§ 1.1297-2Special rules regarding look-through subsidiaries and look-through partnerships.
§ 1.1297-3Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a section 1297(e) PFIC.
§ 1.1297-4Qualifying insurance corporation.
§ 1.1297-5 [Reserved]
§ 1.1297-6Exception from the definition of passive income for active insurance income.
§ 1.1298-0Passive foreign investment company—table of contents.
§ 1.1298-1Section 1298(f) annual reporting requirements for United States persons that are shareholders of a passive foreign investment company.
§ 1.1298-2Rules for certain corporations changing businesses.
§ 1.1298-3Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a former PFIC.
§ 1.1298-4Rules for certain foreign corporations owning stock in 25-percent-owned domestic corporations.
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