collectibles gain
Defined in 1 place of the United States Code.
The term “collectibles gain” means gain from the sale or exchange of a collectible (as defined in section 408(m) without regard to paragraph (3) thereof) which is a capital asset held for more than 1 year but only to the extent such gain is taken into account in computing gross income.
Source
- 1997–199826 U.S.C. § 1Internal Revenue Code · Tax imposed · in this section
The terms “collectibles gain” and “collectibles loss” mean gain or loss (respectively) from the sale or exchange of a collectible (as defined in section 408(m) without regard to paragraph (3) thereof) which is a capital asset held for more than 1 year but only to the extent such gain is taken into account in computing gross income and such loss is taken into account in computing taxable income.
Source
- 1998–present26 U.S.C. § 1Internal Revenue Code · Tax imposed · in this section