{"data":{"id":"us/26-u.s.c.-997","jurisdiction":"us","citation":"26 U.S.C. § 997","heading":"Special subchapter C rules","body":"For purposes of applying the provisions of subchapter C of chapter 1, any distribution in property to a corporation by a DISC or former DISC which is made out of previously taxed income or accumulated DISC income shall—(1) be treated as a distribution in the same amount as if such distribution of property were made to an individual, and (2) have a basis, in the hands of the recipient corporation, equal to the amount determined under paragraph (1).","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":"1cf84f15dd431570d5d100d11a4126056a98ad10a84e0ea8984e4144fa0928f2","source_id":"us","stale":false,"prev":"us/26-u.s.c.-996","next":"us/26-u.s.c.-999"},"notice":"GroundRules: Original legal text. Not legal advice."}