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late-year ordinary loss

Defined in 1 place of the United States Code.

For purposes of this paragraph, the term “late-year ordinary loss” means the excess (if any) of—

(i) the sum of—

(I) the specified losses (as defined in section 4982(e)(5)(B)(ii)) attributable to the portion of the taxable year after October 31, plus

(II) the ordinary losses not described in subclause (I) attributable to the portion of the taxable year after December 31, over

(ii) the sum of—

(I) the specified gains (as defined in section 4982(e)(5)(B)(i)) attributable to the portion of the taxable year after October 31, plus

(II) the ordinary income not described in subclause (I) attributable to the portion of the taxable year after December 31.

Source

  • 2010–201426 U.S.C. § 852Internal Revenue Code · Taxation of regulated investment companies and their shareholders · for purposes of this title

For purposes of this paragraph, the term “late-year ordinary loss” means the sum of any post-October specified loss and any post-December ordinary loss.

Source