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Conversion transaction
(Tax Law)
Any transaction that you entered into after April 30, 1993, that meets both of these tests.
- Substantially all of your expected return from the transaction is due to the time value of your net investment.
- The transaction is one of the following.
- A straddle, including any set of offsetting positions on stock.
- Any transaction in which you acquire property (whether or not actively traded) at substantially the same time that you contract to sell the same property or substantially identical property at a price set in the contract.
- Any other transaction that is marketed or sold as producing capital gains from a transaction described in (1).
Source : Internal Revenue Service - United States Department of Treasury
Language : English