30089

(a) Imposition of tax.-When filing his/her income tax return, the taxpayer may elect to treat the amount of the total distribution that would be considered a long-term capital gain under § 30391(b)(1) of this title, subject to the special tax imposed in such section, or to pay taxes for such income as an ordinary income, whichever is more beneficial for the taxpayer. History —Jan. 31, 2011, No. 1, added as § 1023.09 on Dec. 10, 2011, No. 232, § 17.