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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 26 U.S.C. § 1058 | Transfers of securities under certain agreements | us | united_states_code | code_section | 26 | INTERNAL REVENUE CODE | 1 | NORMAL TAXES AND SURTAXES | 1058 | 26 U.S.C. § 1058 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip | /us/usc/t26/s1058 | data/legal/raw/us/code/title-26/usc26.xml | 13627aa2e0db3128354b8e06b66f11c6ac5491a02a52e23671eddeef5ae886c9 | a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4 | e77a0331f67b9cefa02b86879826ee778ac31bd7227fb15292047b38085f16a8 | 2026-07-04 | official |
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26 U.S.C. § 1058 - Transfers of securities under certain agreements
Text
(a) General rule In the case of a taxpayer who transfers securities (as defined in section 1236(c)) pursuant to an agreement which meets the requirements of subsection (b), no gain or loss shall be recognized on the exchange of such securities by the taxpayer for an obligation under such agreement, or on the exchange of rights under such agreement by that taxpayer for securities identical to the securities transferred by that taxpayer.
(b) Agreement requirements In order to meet the requirements of this subsection, an agreement shall—
(1) provide for the return to the transferor of securities identical to the securities transferred;
(2) require that payments shall be made to the transferor of amounts equivalent to all interest, dividends, and other distributions which the owner of the securities is entitled to receive during the period beginning with the transfer of the securities by the transferor and ending with the transfer of identical securities back to the transferor;
(3) not reduce the risk of loss or opportunity for gain of the transferor of the securities in the securities transferred; and
(4) meet such other requirements as the Secretary may by regulation prescribe.
(c) Basis Property acquired by a taxpayer described in subsection (a), in a transaction described in that subsection, shall have the same basis as the property transferred by that taxpayer.
(Added Pub. L. 95–345, § 2(d)(1), Aug. 15, 1978, 92 Stat. 482.)
Notes
Editorial Notes
Prior ProvisionsA prior section 1058 was renumbered section 1063 of this title.
Statutory Notes and Related Subsidiaries
Effective DateSection applicable with respect to amounts received after Dec. 31, 1976, as payments with respect to securities loans (as defined in section 512(a)(5) of this title), and transfers of securities, under agreements described in this section, occurring after such date, see section 2(e) of Pub. L. 95–345, set out as an Effective Date of 1978 Amendment note under section 509 of this title.