### Question
How does Income Taxes define commodities dealer?


### Answer
Under *26 U.S.C. § 1362*, **commodities dealer** is defined as:

> a person who is actively engaged in trading section 1256 contracts and is registered with a domestic board of trade which is designated as a contract market by the Commodities Futures Trading Commission

#### Citation:
  - *26 U.S.C. § 1362*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter S-Tax Treatment of S Corporations and Their Shareholders > PART I-IN GENERAL**

