### Question
What does forward contract mean?


### Answer
**Forward contract** has the following meaning in *26 U.S.C. § 1259*:

> a contract to deliver a substantially fixed amount of property (including cash) for a substantially fixed price

#### Citation:
  - *26 U.S.C. § 1259*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter P-Capital Gains and Losses > PART IV-SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES**

