GroundRules
RTC § 24990.5
Where this section sits in the code
- Revenue and Taxation Code - RTC
- DIVISION 2. OTHER TAXES [6001. - 61050.]
- PART 11. CORPORATION TAX LAW [23001. - 25141.]
- CHAPTER 15. Gain or Loss on Disposition of Property [24901. - 24998.]
- ARTICLE 4.5. Capital Gains and Losses [24990. - 24995.]
The provisions of Section 1212 of the Internal Revenue Code, relating to capital loss carrybacks and carryovers, are modified as follows:
(a) Section 1212(a)(1)(A) of the Internal Revenue Code, relating to capital loss carrybacks, shall not apply.
(b) Section 1212(a)(4) of the Internal Revenue Code, relating to special rules on carrybacks, shall not apply.
(c) Sections 1212(b) and 1212(c) of the Internal Revenue Code, relating to other taxpayers and carryback of losses from Section 1256 contracts to offset prior gains from such contracts, respectively, shall not apply.
Collected 2026-09-14T05:56:33Z. Source file · JSON