{"data":{"id":"us/26-u.s.c.-1234a","jurisdiction":"us","citation":"26 U.S.C. § 1234A","heading":"Gains or losses from certain terminations","body":"Gain or loss attributable to the cancellation, lapse, expiration, or other termination of—(1) a right or obligation (other than a securities futures contract, as defined in section 1234B) with respect to property which is (or on acquisition would be) a capital asset in the hands of the taxpayer, or (2) a section 1256 contract (as defined in section 1256) not described in paragraph (1) which is a capital asset in the hands of the taxpayer, shall be treated as gain or loss from the sale of a capital asset. The preceding sentence shall not apply to the retirement of any debt instrument (whether or not through a trust or other participation arrangement).","path":["Title 26—INTERNAL REVENUE CODE","CHAPTER 1—NORMAL TAXES AND SURTAXES"],"source_url":"https://uscode.house.gov/download/releasepoints/us/pl/119/103/xml_usc26@119-103.zip","current_through":"Public Law 119-103 (09/02/2026)","vintage":"","retrieved_at":"2026-09-10T05:58:25Z","sha256":"a810d8041607d91f31dd3b45143b22a1c034a43f5af5d4bf6c4592598f56bfd7","source_id":"us","stale":true,"prev":"us/26-u.s.c.-1234","next":"us/26-u.s.c.-1234b"},"notice":"GroundRules: Original legal text. Not legal advice."}