Current through Pub. L. 119-100Open in workspace
§ 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.)
Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 1241
Source: decipher.legal/usc/26/1241 · Internal Revenue Code, current through Pub. L. 119-100 (OLRC XML of 2026-04-17)