# Prop. Treas. Reg. § 1.471-12: Nonfinancial customer paper.

Proposed regulation, not in force. REG-104924-98, 64 FR 4374, published 1999-01-28 <https://www.federalregister.gov/documents/1999/01/28/99-1787/mark-to-market-accounting-for-dealers-in-commodities-and-traders-in-securities-or-commodities>. Interprets 26 U.S.C. § 471.

Par. 3. Section 1.471-12 is added as follows:

Nonfinancial customer paper, as defined in section 475(c)(4)(B), may not be treated as inventory except as provided in Sec. 1.475(c)- 2(d). This section applies to taxable years ending on or after January 28, 1999.