Cal. Rev. & Tax. Code § 17078

Current through the 2023 Legislative Session.

Section 17078 - Applicability of IRC Section 988

(a) Section 988 of the Internal Revenue Code, relating to treatment of certain foreign currency transactions, shall apply, except as otherwise provided.

(b) Section 988(a)(3) of the Internal Revenue Code, relating to source, shall not apply.

Ca. Rev. and Tax. Code § 17078

Amended by Stats. 1993, Ch. 877, Sec. 13. Effective October 6, 1993.