### Question
What does dealer in securities” has the meaning given such term by section 475(c)(1), and the term “dealer in commodities mean?


### Answer
**Dealer in securities” has the meaning given such term by section 475(c)(1), and the term “dealer in commodities** has the following meaning in *26 U.S.C. § 956*:

> given such term by section 475(e), except that such term shall include a futures commission merchant.

#### Citation:
  - *26 U.S.C. § 956*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter N-Tax Based on Income From Sources Within or Without the United States > PART III-INCOME FROM SOURCES WITHOUT THE UNITED STATES > Subpart F-Controlled Foreign Corporations**

