§ 1241 - Cancellation of lease or distributor’s agreement

CHAPTER 1— NORMAL TAXES AND SURTAXES › Subchapter P— Capital Gains and Losses

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.