# Prop. Treas. Reg. § 1.475(c)-1: Definitions--dealer in securities.

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. § 475.

Par. 4. In Sec. 1.475(c)-1, paragraphs (b)(3)(i) and (b)(4)(ii) are revised to read as follows:

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(b) * * *

(3) * * *

(i) For purposes of section 471, the taxpayer accounts for any security (as defined in section 475(c)) as inventory;

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(4) * * *

(ii) Continued applicability of an election.--(A) In general. Except as provided in paragraph (b)(4)(ii)(B) of this section, an election under this paragraph (b)(4) continues in effect for subsequent taxable years until revoked. The election may be revoked only with the consent of the Commissioner.

(B) Taxable years ending after July 22, 1998. An election under this paragraph (b)(4) is ineffective for taxable years ending after July 22, 1998.

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