Title 26, Internal Revenue CodeRelease 119-110
§317 Other Definitions
Title 26 › Subtitle A — Income Taxes › CHAPTER 1 — NORMAL TAXES AND SURTAXES › Subchapter C — Corporate Distributions and Adjustments › PART I — DISTRIBUTIONS BY CORPORATIONS › Subpart C — Definitions; Constructive Ownership of Stock › § 317
Summary
Defines "property" as money, investments, and other things of value, but not shares of the company that makes the payment or rights to buy those shares. Treats stock as "redeemed" when the company acquires its shares from a shareholder in exchange for property, even if the shares are canceled, retired, or kept as treasury stock.
Full Legal Text
Title 26, §317
Internal Revenue Code, Source: USLM XML via OLRC
(a)Property
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)Redemption of stock
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
Sep 22, 2026
Release point: 119-110