### Question
What does forward contract mean?


### Answer
**Forward contract** has the following meaning in *26 U.S.C. § 1260*:

> any contract to acquire in the future (or provide or receive credit for the future value of) any financial asset

#### Citation:
  - *26 U.S.C. § 1260*
  - 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**

