26 USC 1257 - Disposition of converted wetlands or highly erodible croplands

U.S Code last checked for updates: Nov 22, 2024

§ 1257.

Disposition of converted wetlands or highly erodible croplands

(a)

Gain treated as ordinary income

(b)

Loss treated as long-term capital loss

(c)

Definitions

For purposes of this section—

(1)

Converted wetland

The term “converted wetland” means any converted wetland (as defined in section 1201(a)(7) of the Food Security Act of 1985 (16 U.S.C. 3801(7))) held—

(A)

by the person whose activities resulted in such land being converted wetland, or

(B)

by any other person who at any time used such land for farming purposes.

(2)

Highly erodible cropland

(3)

Treatment of successors

(d)

Special rules

(Added Pub. L. 99–514, title IV, § 403(a), Oct. 22, 1986, 100 Stat. 2222; amended Pub. L. 108–27, title III, § 302(e)(4)(B)(ii), May 28, 2003, 117 Stat. 764; Pub. L. 115–141, div. U, title IV, § 401(a)(177), (178), Mar. 23, 2018, 132 Stat. 1192.)

cite as: 26 USC 1257