section 988 transaction
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 988 — for purposes of this section
The term “section 988 transaction” means any transaction described in subparagraph (B) if the amount which the taxpayer is entitled to receive (or is required to pay) by reason of such transaction—
(i) is denominated in terms of a nonfunctional currency, or
(ii) is determined by reference to the value of 1 or more nonfunctional currencies.