"The taxation of various financial products often begins with a careful analysis of whether IRC Section 1256 applies and how that impacts the taxation of the transaction involved. This course addresses those financial products that qualify for Section 1256 treatment and those that do not. It explores the special tax rules applied to Section 1256 contracts, and discusses ways for taxpayers to get into and out of Section 1256 treatment. Upon completing this course, you should be able to: Understand how IRC Section 1256 applies to financial product transactions Identify how Code Section 1256 application changes the taxability of a transaction Show how taxpayers can get into or out of Section 1256 treatment for a financial product transaction "