A bill relating to the income tax treatment of securities which are acquired for business reasons and not as an investment.

[AI summary unavailable — showing source text] Revises the Internal Revenue Code to provide that the loss from the sale or exchange of any security shall be considered as a loss from the sale or exchange of a capital asset unless the taxpayer notified the Secretary of the Treasury within 30 days of the acquisition of such security that the security was not acquired as an investment. Provides that if the required notification was given, any gain on the sale or exchange of such security shall be treated as ordinary gain.…