26 U.S.C. § 1211 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 1211. Limitation on capital losses

(a) Corporations.--In the case of a corporation, losses from sales or exchanges of capital assets shall be allowed only to the extent of gains from such sales or exchanges.

(b) Other taxpayers.--In the case of a taxpayer other than a corporation, losses from sales or exchanges of capital assets shall be allowed only to the extent of the gains from such sales or exchanges, plus (if such losses exceed such gains) the lower of--