Segment 988 Definition

Segment 988 Definition

What Is Section 988? IRC Section 988 is a tax regulation governing capital losses or gains on investments held in a foreign (nonfunctional) currency. A Section 988 transaction relates to Section 988(c)(1) of the Internal Revenue Code, which went into effect after Dec. 31, 1986. Key Takeaways Section 988 of the Internal Revenue Code  describes