specified assets, or (B) entered into a contract or option to acquire, or long notional principal contract in respect of, substantially identical specified assets. (2) Exception for dealers Paragraph (1) shall not apply if— (A) the taxpayer is a dealer in specified assets, (B) the loss is sustained in a transaction made in the ordinary course of its business as a dealer, and (C) the acquisition (or the entering into of the contract or option to acquire or long notional principal contract) which (without regard to this paragraph) would have resulted in the non-deductibility of the loss was similarly made in the ordinary course of such business. (b) Specified assets acquired less than specified assets sold If the amount of specified assets acquired (or covered by the contract or option to acquire or long notional principal contract) is less than the amount of specified assets sold or otherwise disposed of, then the particular specified assets the loss from the sale or other disposition of which is not deductible shall be determined under regulations prescribed by the Secretary. (c) Specified assets acquired not less than specified assets sold If the amount of specified assets acquired (or covered by the contract or option to acquire or long notional principal contract) is not less than the amount of specified assets sold or otherwise disposed of, then the particular specified assets the acquisition of which (or the entering into of the contract or option to acquire or long notional principal contract of which) resulted in the non-deductibility of the loss shall be determined under regulations prescribed by the Secretary. (d) Adjustment to basis in case of wash sale (1) In general The basis of the specified asset acquired (or the contract, option, or long notional principal contract entered into) shall be increased by the amount of the deduction disallowed under subsection (a) (reduced by any amount of such deduction taken into account under this subsection to increase the basis of any specified asset previously