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(3) read as follows: “The term ‘payment date’ means. (1)(B)(iii) as the date on which the position is entered into or acquired. (C) which defined “booking date” in the case of a transaction described in par. (II) read as follows: “for purposes of determining the foreign currency gain or loss from such transaction, paragraphs (1) and (2) of subsection (b) shall be applied by substituting ‘acquisition date’ for ‘booking date’ and ‘disposition’ for ‘payment date’.” (iii) read as follows: “Entering into or acquiring any forward contract, futures contract, option, or similar financial instrument if such instrument is not marked to market at the close of the taxable year under section 1256.” 100–647, § 6130(a), struck out “unless such instrument would be marked to market under section 1256 if held on the last day of the taxable year” after “similar financial instrument”. 100–647, § 1012(v)(8), inserted at end “If an individual does not have a tax home (as so defined), the residence of such individual shall be the United States if such individual is a United States citizen or a resident alien and shall be a country other than the United States if such individual is not a United States citizen or a resident alien.” 101–239 inserted introductory provision “Notwithstanding any other provision of this chapter-”.ġ988-Subsec. Prior to amendment, text read as follows: “This section shall apply to section 988 transactions entered into by an individual only to the extent expenses properly allocable to such transactions meet the requirements of section 162 or 212 (other than that part of section 212 dealing with expenses incurred in connection with taxes).”ġ993-Subsec. 105–34 amended heading and text of subsec.
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106–170 substituted “to manage” for “to reduce”.ġ997-Subsec.