In general
If any registration-required obligation is not in registered form, any gain on the sale or other disposition of such obligation shall be treated as ordinary income (unless the issuance of such obligation was subject to tax under section 4701).
Definitions
Registration-required obligation
The term “registration-required obligation” has the meaning given to such term by section 163(f)(2).
Registered form
The term “registered form” has the same meaning as when used in section 163(f).
Pub. L. 98–369, div. A, title I, § 41(a)98 Stat. 552Pub. L. 111–147, title V, § 502(a)(2)(D)124 Stat. 107(Added , , ; amended , , .)
Editorial Notes
Amendments
Pub. L. 111–1472010—Subsec. (b)(1). struck out “except that clause (iv) of subparagraph (A), and subparagraph (B), of such section shall not apply” before period.
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Pub. L. 111–147section 502(f) of Pub. L. 111–147section 149 of this titleAmendment by applicable to obligations issued after the date which is 2 years after , see , set out as a note under .
Effective Date
section 44 of Pub. L. 98–369section 1271 of this titleSection applicable to taxable years ending after , except as otherwise provided, see , set out as a note under .