The following definitions apply for purposes of §§ 1.1092(b)-1T through 1.1092(b)-4T.
§ 1.1092(b)-5T(a) Disposing, disposes, or disposed. The term disposing, disposes, or disposed includes the sale, exchange, cancellation, lapse, expiration, or other termination of a right or obligation with respect to personal property (as defined in section 1092(d)(1)).
§ 1.1092(b)-5T(b) Hedging transaction. The term hedging transaction means a hedging transaction as defined in section 1256(e).
§ 1.1092(b)-5T(c) Identified straddle. The term identified straddle means an identified straddle as defined in section 1092(a)(2)(B).
§ 1.1092(b)-5T(d) Loss. The term loss means a loss otherwise allowable under section 165(a) (without regard to the limitation contained in section 165(f)) and includes a write-down in inventory.
§ 1.1092(b)-5T(e) Mixed straddle. The term mixed straddle means a straddle—
§ 1.1092(b)-5T(e)(1) All of the positions of which are held as capital assets;
§ 1.1092(b)-5T(e)(2) At least one (but not all) of the positions of which is a section 1256 contract;
§ 1.1092(b)-5T(e)(3) For which an election under section 1256(d) has not been made; and
§ 1.1092(b)-5T(e)(4) Which is not part of a larger straddle.
§ 1.1092(b)-5T(f) Non-section 1256 position. The term non-section 1256 position means a position that is not a section 1256 contract.
§ 1.1092(b)-5T(g) Offsetting position. The term offsetting position means an offsetting position as defined in section 1092(c)(2).
§ 1.1092(b)-5T(h) Position. The term position means a position as defined in section 1092(d)(2).
§ 1.1092(b)-5T(i) [Reserved]
§ 1.1092(b)-5T(j) Related person or flowthrough entity. The term related person or flowthrough entity means a related person or flowthrough entity as defined in sections 1092(d)(4) (B) and (C) respectively.
§ 1.1092(b)-5T(k) Section 1256 contract. The term section 1256 contract means a section 1256 contract as defined in section 1256(b).
§ 1.1092(b)-5T(l) [Reserved]
§ 1.1092(b)-5T(m) Straddle. The term straddle means a straddle as defined in section 1092(c)(1).
§ 1.1092(b)-5T(n) Successor position. The term successor position means a position (“P”) that is or was at any time offsetting to a second position if—
§ 1.1092(b)-5T(n)(1) The second position was offsetting to any loss position disposed of; and
§ 1.1092(b)-5T(n)(2) P is entered into during a period commencing 30 days prior to, and ending 30 days after, the disposition of the loss position referred to in paragraph (n)(1) of this section.
§ 1.1092(b)-5T(o) Unrecognized gain. The term unrecognized gain means unrecognized gain as defined in section 1092(a)(3)(A).
§ 1.1092(b)-5T(p) Substantially identical. The term substantially identical has the same meaning as substantially identical in section 1091(a).
§ 1.1092(b)-5T(q) Securities. The term security means a security as defined in section 1236(c).