### Question
How is the term position defined?


### Answer
The term **position** is defined in *26 U.S.C. § 1259* as the following:

> an interest, including a futures or forward contract, short sale, or option

#### 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**

