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Internal Revenue Code · 26 U.S.C.

§ 1241. Cancellation of lease or distributor’s agreement

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

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. § 1241

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Length
57 words · about 1 min to read
Cross-references
cites 0; cited by 0 Code sections and 1 other regulation
Regulations
1 issued under this section

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.

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

Regulations under this section

Treasury regulations (26 CFR) issued under § 1241

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

Cited in 1 regulation not issued under it

Where it sits in the Code

  1. Subtitle A Income Taxes
  2. Chapter 1 NORMAL TAXES AND SURTAXES
  3. Subchapter P Capital Gains and Losses
  4. Part IV SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES

Nearby sections