Cancellation of lease or distributor's agreement

  1. Law
  2. USC 26
  3. Internal Revenue Code
  4. Income Taxes
  5. NORMAL TAXES AND SURTAXES
  6. Capital Gains and Losses
  7. SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES
  8. Cancellation of lease or distributor's agreement

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§1241. Cancellation of lease or distributor's agreement

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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