988 transaction
id:
988-transaction-303-10542391
title:
988 transaction
text:
A 988 transaction is a transaction described in section 988(c)(1) of the Internal Revenue Code in the United States of America. This transaction occurs when a taxpayer enters into or acquires any debt instrument, forward contract, futures contract, option, or similar financial instrument held in a non-functional currency. The rules for 988 transactions do not apply to any regulated futures contract or non-equity options which would be marked to market under 26 USCA ยง 1256 if held on the last day
brand slug:
wiki
category slug:
encyclopedia
description:
US tax terminology
original url:
https://en.wikipedia.org/wiki/988_transaction
date created:
date modified:
2023-07-28T01:23:30Z
main entity:
{"identifier":"Q4646211","url":"https://www.wikidata.org/entity/Q4646211"}
image:
fields total:
13
integrity:
14