CHAPTER 1— NORMAL TAXES AND SURTAXES›Subchapter P— Capital Gains and Losses›PART IV— SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES

§ 1241. Cancellation of lease or distributor’s agreement

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code) · 2026 edition · updated 2026-10-03 · United States

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.)

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▸Contents — 26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

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