CONSTRUCTIVE SALE RULE - SECTION 1259
Section of the Internal Revenue Service Code expanding the types of transactions subject to capital gains tax. Section 1259 states transactions effectively taking an offsetting position to an owned position are considered constructive sales. It aims to prevent investors from taking investment gains without paying capital gains, as well as to limit their capability to transfer gains from one tax period to another. Also called Constructive Sales Treatment for Appreciated Financial Positions.
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