Title 26 — Internal Revenue CodeRelease 119-73
§317 Other definitions
Title 26 › Subtitle Subtitle A— - Income Taxes › Chapter CHAPTER 1— - NORMAL TAXES AND SURTAXES › Subchapter Subchapter C— - Corporate Distributions and Adjustments › Part PART I— - DISTRIBUTIONS BY CORPORATIONS › Subpart Subpart C— - Definitions; Constructive Ownership of Stock › § 317
Summary
Defines "property" as cash, securities, and other assets, excluding stock of the distributing company or rights to acquire that stock. Treats stock as redeemed when the company acquires it from a shareholder for property, even if cancelled, retired, or held as treasury stock.
Full Legal Text
Title 26, §317
Internal Revenue Code — Source: USLM XML via OLRC
(a)For purposes of this part, the term “property” means money, securities, and any other property; except that such term does not include stock in the corporation making the distribution (or rights to acquire such stock).
(b)For purposes of this part, stock shall be treated as redeemed by a corporation if the corporation acquires its stock from a shareholder in exchange for property, whether or not the stock so acquired is cancelled, retired, or held as treasury stock.
Reference
Citations & Metadata
Citation
26 U.S.C. § 317
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73