Reg. § 1.1092(b)-5T Definitions (temporary).
The following definitions apply for purposes of through .
(a) Disposing, disposes, or disposed The term disposing, disposes, or disposed includes the sale, exchange, cancellation, lapse, expiration, or other termination of a right or obligation with respect to personal property (as defined in section ).
(b) Hedging transaction The term hedging transaction means a hedging transaction as defined in section .
(c) Identified straddle The term identified straddle means an identified straddle as defined in section .
(d) Loss The term loss means a loss otherwise allowable under section (without regard to the limitation contained in section ) and includes a write-down in inventory.
(e) Mixed straddle The term mixed straddle means a straddle—
(1) All of the positions of which are held as capital assets;
(2) At least one (but not all) of the positions of which is a section contract;
(3) For which an election under section has not been made; and
(4) Which is not part of a larger straddle.
(f) Non-section 1256 position The term non-section position means a position that is not a section contract.
(g) Offsetting position The term offsetting position means an offsetting position as defined in section .
(h) Position The term position means a position as defined in section .
(i) [Reserved]
(j) Related person or flowthrough entity The term related person or flowthrough entity means a related person or flowthrough entity as defined in sections (B) and (C) respectively.
(k) Section 1256 contract The term section contract means a section contract as defined in section .
(l) [Reserved]
(m) Straddle The term straddle means a straddle as defined in section .
(n) Successor position The term successor position means a position (“P”) that is or was at any time offsetting to a second position if—
(1) The second position was offsetting to any loss position disposed of; and
(2) P is entered into during a period commencing 30 days prior to, and ending 30 days after, the disposition of the loss position referred to in of this section.
(o) Unrecognized gain The term unrecognized gain means unrecognized gain as defined in section .
(p) Substantially identical The term substantially identical has the same meaning as substantially identical in section .
(q) Securities The term security means a security as defined in section .
(Secs. 1092(b) and 7805 of the Internal Revenue Code of 1954 (68A Stat. 917, 95 Stat. 324, 26 U.S.C. 1092(b), 7805) and sec. 102(h) of the Tax Reform Act of 1984 (98 Stat. 625))
[T.D. 8007, 50 FR 3321, Jan. 24, 1985, as amended by T.D. 8070, 51 FR 1788, Jan. 15, 1986]