Internal Revenue Code · 26 U.S.C.

§ 1287. Denial of capital gain treatment for gains on certain obligations not in registered form

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 1287

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status: In force
Added: July 18, 1984 by Pub. L. 98–369
Last amended: March 18, 2010 by Pub. L. 111–147
Amendments: 1 dated changes in the source credit
Length: 2 subsections · 117 words · about 1 min to read
Defines: 2 terms
Cross-references: cites 2; cited by 1 Code section and 1 other regulation
Regulations: 1 issued under this section

¶(a) 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).

¶(b) Definitions For purposes of subsection (a)—

¶(1) Registration-required obligation

The term “registration-required obligation” has the meaning given to such term by section 163(f)(2).

¶(2) Registered form

The term “registered form” has the same meaning as when used in section 163(f).

(Added Pub. L. 98–369, div. A, title I, § 41(a), July 18, 1984, 98 Stat. 552; amended Pub. L. 111–147, title V, § 502(a)(2)(D), Mar. 18, 2010, 124 Stat. 107.)

Terms defined here

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registered form § 1287(b)(2)
registration-required obligation § 1287(b)(1)

Regulations under this section

Treasury regulations (26 CFR) issued under § 1287

§ 1.1287-1 Denial of capital gains treatment for gains on registration-required obligations not in registered form.

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 2 other sections

Cited by 1 Code section

§ 165(j)(3) Losses

Cited in 1 regulation not issued under it

§ 1.165-12 Denial of deduction for losses on registration-required obligations not in registered form.

Amendment history

From the source credit and the official notes, newest first.

March 18, 2010Amended by Pub. L. 111–147Parts changed in 2010: (b)(1)
July 18, 1984Added by Pub. L. 98–369

Where it sits in the Code

Nearby sections

§ 1286 Tax treatment of stripped bonds
§ 1287 Denial of capital gain treatment for gains on certain obligations not in registered form
§ 1288 Treatment of original issue discount on tax-exempt obligations

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Editorial Notes

Amendments

2010—Subsec. (b)(1). Pub. L. 111–147 struck out “except that clause (iv) of subparagraph (A), and subparagraph (B), of such section shall not apply” before period.

Effective Date of 2010 Amendment

Amendment by Pub. L. 111–147 applicable to obligations issued after the date which is 2 years after Mar. 18, 2010, see section 502(f) of Pub. L. 111–147, set out as a note under section 149 of this title.

Effective Date

Section applicable to taxable years ending after July 18, 1984, except as otherwise provided, see section 44 of Pub. L. 98–369, set out as a note under section 1271 of this title.