Background on Commodity Tax Straddles and Explanation of S. 626: Scheduled for a Joint Hearing by the Subcommittee on Taxation and Debt Management and the Subcommittee on Energy and Agricultural Taxation of the Committee on Finance on June 12, 1981
U.S. Government Printing Office, 1981 - Commodity exchanges - 30 pages
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$50 per share 30 days amount balanced period balanced position broker butterfly straddle buyer capital asset cash Code sec commission commodity futures contract Commodity Futures Trading contract to buy date This provision debt instruments decreases in value delivery date delivery month executed Explanation of provision Forward contracts futures transactions gain or loss gains and losses Ginnie Mae hedging held for investment holder holding period income or loss Internal Revenue Service liquidated list contracts long position long-term capital gain long-term gain margin account margin deposit margin requirements modity obligations offsetting positions options exchange ordinary income percent personal property present law provision would apply purchase Revenue Ruling sale or exchange sell stock short position short sale short-term capital gain short-term capital loss speculator Spread traders stock or securities straddle transaction straddles in commodity tax shelters tax straddles taxable taxpayer holds Treasury bill futures treated as capital wash sale