2017 US Code
Title 26 - Internal Revenue Code
Subtitle A - Income Taxes
Chapter 1 - Normal Taxes and Surtaxes
Subchapter P - Capital Gains and Losses
Part IV - Special Rules for Determining Capital Gains and Losses
Sec. 1241 - Cancellation of lease or distributor's agreement

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Citation 26 U.S.C. § 1241 (2017)
Section Name ยง1241. Cancellation of lease or distributor's agreement
Section Text

Amounts received by a lessee for the cancellation of a lease, or by a distributor of goods for the cancellation of a distributor's agreement (if the distributor has a substantial capital investment in the distributorship), shall be considered as amounts received in exchange for such lease or agreement.

Source Credit

(Aug. 16, 1954, ch. 736, 68A Stat. 333.)

Publication Title United States Code, 2012 Edition, Supplement 5, Title 26 - INTERNAL REVENUE CODE
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 26 - INTERNAL REVENUE CODE
Subtitle A - Income Taxes
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter P - Capital Gains and Losses
PART IV - SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES
Sec. 1241 - Cancellation of lease or distributor's agreement
Contains section 1241
Date 2017
Laws In Effect As Of Date January 12, 2018
Positive Law No
Disposition standard
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