### Question
What does appreciated financial position mean?


### Answer
**Appreciated financial position** has the following meaning in *26 U.S.C. § 1259*:

> any position with respect to any stock, debt instrument, or partnership interest if there would be gain were such position sold, assigned, or otherwise terminated at its fair market value

#### 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**

