Internal Revenue Code · 26 U.S.C.
§ 1240. Repealed. Pub. L. 94–455, title XIX, § 1901(a)(139), Oct. 4, 1976, 90 Stat. 1787
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 1240
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- Repealed
- Regulations
- 1 issued under this section
Repealed. Pub. L. 94–455, title XIX, § 1901(a)(139), Oct. 4, 1976, 90 Stat. 1787
Regulations under this section
Treasury regulations (26 CFR) issued under § 1240
Where it sits in the 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
Nearby sections
- § 1236 Dealers in securities
- § 1237 Real property subdivided for sale
- § 1238 Repealed
- § 1239 Gain from sale of depreciable property between certain related taxpayers
- § 1240 Repealed
- § 1241 Cancellation of lease or distributor’s agreement
- § 1242 Losses on small business investment company stock
- § 1243 Loss of small business investment company
- § 1244 Losses on small business stock
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Section, act Aug. 16, 1954, ch. 736, 68A Stat. 332, related to taxability to employee of termination payments.
Statutory Notes and Related Subsidiaries
Effective Date of Repeal
Repeal applicable with respect to taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 2 of this title.