[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR2634.303]

[Page 505]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
                CHAPTER XVI--OFFICE OF GOVERNMENT ETHICS
 
PART 2634_EXECUTIVE BRANCH FINANCIAL DISCLOSURE, QUALIFIED TRUSTS, AND 
CERTIFICATES OF DIVESTITURE--Table of Contents
 
                      Subpart C_Contents of Reports
 
Sec. 2634.303  Purchases, sales, and exchanges.

    (a) In general. Except as indicated in Sec. 2634.308(b) of this 
subpart, each public financial disclosure report filed pursuant to 
subpart B of this part shall include a brief description, the date and 
value (using the categories of value in Sec. 2634.301(d) of this 
subpart) of any purchase, sale, or exchange by the filer during the 
reporting period, in which the amount involved in the transaction 
exceeds $1,000:
    (1) Of real property, other than a personal residence of the filer 
or spouse, as defined in Sec. 2634.105(l) of this part; and
    (2) Of stocks, bonds, commodity futures, mutual fund shares, and 
other forms of securities.
    (b) Exceptions. (1) Any transaction solely by and between the 
reporting individual, his spouse, and dependent children need not be 
reported under paragraph (a) of this section.
    (2) Transactions involving Treasury bills, notes, and bonds; money 
market mutual funds or accounts; and personal savings accounts (as 
defined in Sec. 2634.301(c)(2) of this subpart) need not be reported 
when occurring at rates, terms, and conditions available generally to 
members of the public. Likewise, transactions involving portfolio 
holdings of trusts and investment funds described in Sec. 2634.310 (b) 
and (c) of this subpart need not be reported.
    (3) Any transaction which occurred at a time when the reporting 
individual was not a Federal Government officer or employee need not be 
reported under paragraph (a) of this section.

    Example 1. An official sells her personal residence in Virginia for 
$100,000 and purchases a personal residence in the District of Columbia 
for $200,000. She need not report the sale of the Virginia residence or 
the purchase of the D.C. residence.
    Example 2. An official sells his beach home in Maryland for $50,000. 
Because he has rented it out for one month every summer, it does not 
qualify as a personal residence. He must disclose the sale under this 
section and any capital gain over $200 realized on the sale under Sec. 
2634.302 of this subpart.
    Example 3. An official sells a ranch to his dependent daughter. The 
official need not report the sale because it is a transaction between 
the reporting individual and a dependent child; however, any capital 
gain, except for that portion attributable to a personal residence, is 
required to be reported under Sec. 2634.302 of this subpart.
    Example 4. An official sells an apartment building and realizes a 
loss of $100,000. He must report the sale of the building if the sale 
price of the property exceeds $1,000; however, he need not report 
anything under Sec. 2634.302 of this subpart, as the sale did not 
result in a capital gain.

[57 FR 11808, Apr. 7, 1992; 57 FR 21854, May 22, 1992]