(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.
Cal. Rev. & Tax. Code § 24905
Computation of Gain or Loss
Amended by Stats. 1993, Ch. 877, Sec. 79
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.