### Question
How does Income Taxes define securities futures contract?


### Answer
Under *26 U.S.C. § 1256*, **securities futures contract** is defined as:

> given to such term by section 1234B.

#### Citation:
  - *26 U.S.C. § 1256*
  - 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**

