Amendments
1997—Subsecs. (a)(2), (c)(1). [Pub. L. 105–34] substituted “section 751(d)” for “section 751(d)(2)”.
1984—Subsec. (c). [Pub. L. 98–369] added subsec. (c).
1976—Subsec. (a)(1), (2). [Pub. L. 94–455] substituted “as ordinary income or as ordinary loss, as the case may be” for “gain or loss from the sale or exchange of property other than a capital asset”.
Statutory Notes and Related Subsidiaries
Effective Date of 1997 Amendment
Amendment by [Pub. L. 105–34] applicable to sales, exchanges, and distributions after Aug. 5, 1997, but not applicable to any sale or exchange pursuant to a written binding contract in effect on June 8, 1997, and at all times thereafter before such sale or exchange, see [section 1062(c) of Pub. L. 105–34], set out as a note under section 724 of this title.
Effective Date of 1984 Amendment
[Pub. L. 98–369, div. A, title I, § 74(d)(2)], July 18, 1984, [98 Stat. 594], provided that: “The amendment made by subsection (b) [amending this section] shall apply to property distributed after March 31, 1984, in taxable years ending after such date.”
Effective Date of 1976 Amendment
Amendment by [Pub. L. 94–455] effective for 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.