Revenue and Taxation Code § 24905

ARTICLE 1. Computation of Gain or Loss

Current as of September 28, 2026Rev. & Tax. Code, § 24905Official source ↗

Amended by Stats. 1993, Ch. 877, Sec. 79. Effective October 6, 1993.

(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.