Federal

Title 26 — Internal Revenue Code

2,161 sections, each with the official text and a plain-English explanation of what it means for you.

• § 1 — Tax imposed
• § 1000 — Reserved]
• § 1001 — Determination of amount of and recognition of gain or loss
• § 1002 — Repealed. Pub. L. 94–455, title XIX, § 1901(b)(28)(B)(i) , Oct. 4, 1976 , 90 Stat. 1799 ]
• § 101 — Certain death benefits
• § 1011 — Adjusted basis for determining gain or loss
• § 1012 — Basis of property—cost
• § 1013 — Basis of property included in inventory
• § 1014 — Basis of property acquired from a decedent
• § 1015 — Basis of property acquired by gifts and transfers in trust
• § 1016 — Adjustments to basis
• § 1017 — Discharge of indebtedness
• § 1018 — Repealed. Pub. L. 96–589, § 6(h)(1) , Dec. 24, 1980 , 94 Stat. 3410 ]
• § 1019 — Property on which lessee has made improvements
• § 102 — Gifts and inheritances
• § 1020 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(125) , Oct. 4, 1976 , 90 Stat. 1784 ]
• § 1021 — Sale of annuities
• § 1022 — Repealed. Pub. L. 111–312, title III, § 301(a) , Dec. 17, 2010 , 124 Stat. 3300 ]
• § 1023 — Cross references
• § 1024 — Renumbered § 1023]
• § 103 — Interest on State and local bonds
• § 1031 — Exchange of real property held for productive use or investment
• § 1032 — Exchange of stock for property
• § 1033 — Involuntary conversions
• § 1034 — Repealed. Pub. L. 105–34, title III, § 312(b) , Aug. 5, 1997 , 111 Stat. 839 ]
• § 1035 — Certain exchanges of insurance policies
• § 1036 — Stock for stock of same corporation
• § 1037 — Certain exchanges of United States obligations
• § 1038 — Certain reacquisitions of real property
• § 1039 — Repealed. Pub. L. 101–508, title XI, § 11801(a)(33) , Nov. 5, 1990 , 104 Stat. 1388–521 ]
• § 103A — Repealed. Pub. L. 99–514, title XIII, § 1301(j)(1) , Oct. 22, 1986 , 100 Stat. 2657 ]
• § 104 — Compensation for injuries or sickness
• § 1040 — Transfer of certain farm, etc., real property
• § 1041 — Transfers of property between spouses or incident to divorce
• § 1042 — Sales of stock to employee stock ownership plans or certain cooperatives
• § 1043 — Sale of property to comply with conflict-of-interest requirements
• § 1044 — Repealed. Pub. L. 115–97, title I, § 13313(a) , Dec. 22, 2017 , 131 Stat. 2133 ]
• § 1045 — Rollover of gain from qualified small business stock to another qualified small business stock
• § 105 — Amounts received under accident and health plans
• § 1051 — Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(78) , Dec. 19, 2014 , 128 Stat. 4049 ]
• § 1052 — Basis established by the Revenue Act of 1932 or 1934 or by the Internal Revenue Code of 1939
• § 1053 — Property acquired before March 1, 1913
• § 1054 — Certain stock of Federal National Mortgage Association
• § 1055 — Redeemable ground rents
• § 1056 — Repealed. Pub. L. 108–357, title VIII, § 886(b)(1)(A) , Oct. 22, 2004 , 118 Stat. 1641 ]
• § 1057 — Repealed. Pub. L. 105–34, title XI, § 1131(c)(2) , Aug. 5, 1997 , 111 Stat. 980 ]
• § 1058 — Transfers of securities under certain agreements
• § 1059 — Corporate shareholder’s basis in stock reduced by nontaxed portion of extraordinary dividends
• § 1059A — Limitation on taxpayer’s basis or inventory cost in property imported from related persons
• § 106 — Contributions by employer to accident and health plans
• § 1060 — Special allocation rules for certain asset acquisitions
• § 1061 — Partnership interests held in connection with performance of services
• § 1062 — Gain from the sale or exchange of qualified farmland property to qualified farmers
• § 1063 — Cross references
• § 107 — Rental value of parsonages
• § 1071 — Repealed. Pub. L. 104–7, § 2(a) , Apr. 11, 1995 , 109 Stat. 93 ]
• § 108 — Income from discharge of indebtedness
• § 1081 to 1083 — Repealed. Pub. L. 109–135, title IV, § 402(a)(1) , Dec. 21, 2005 , 119 Stat. 2610 ]
• § 109 — Improvements by lessee on lessor’s property
• § 1091 — Loss from wash sales of stock or securities
• § 1092 — Straddles
• § 11 — Tax imposed
• § 110 — Qualified lessee construction allowances for short-term leases
• § 1101 to 1103 — Repealed. Pub. L. 101–508, title XI, § 11801(a)(34) , Nov. 5, 1990 , 104 Stat. 1388–521 ]
• § 111 — Recovery of tax benefit items
• § 1111 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(134) , Oct. 4, 1976 , 90 Stat. 1786 ]
• § 112 — Certain combat zone compensation of members of the Armed Forces
• § 113 — Repealed. Pub. L. 101–508, title XI, § 11801(a)(7) , Nov. 5, 1990 , 104 Stat. 1388–520 ]
• § 114 — Repealed. Pub. L. 108–357, title I, § 101(a) , Oct. 22, 2004 , 118 Stat. 1423 ]
• § 115 — Income of States, municipalities, etc.
• § 116 — Repealed. Pub. L. 99–514, title VI, § 612(a) , Oct. 22, 1986 , 100 Stat. 2250 ]
• § 117 — Qualified scholarships
• § 118 — Contributions to the capital of a corporation
• § 119 — Meals or lodging furnished for the convenience of the employer
• § 12 — Cross references relating to tax on corporations
• § 120 — Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(19)(A) , Dec. 19, 2014 , 128 Stat. 4039 ]
• § 1201 — Repealed. Pub. L. 115–97, title I, § 13001(b)(2)(A) , Dec. 22, 2017 , 131 Stat. 2096 ]
• § 1202 — Partial exclusion for gain from certain small business stock
• § 121 — Exclusion of gain from sale of principal residence
• § 1211 — Limitation on capital losses
• § 1212 — Capital loss carrybacks and carryovers
• § 122 — Certain reduced uniformed services retirement pay
• § 1221 — Capital asset defined
• § 1222 — Other terms relating to capital gains and losses
• § 1223 — Holding period of property
• § 123 — Amounts received under insurance contracts for certain living expenses
• § 1231 — Property used in the trade or business and involuntary conversions
• § 1232 to 1232B — Repealed. Pub. L. 98–369, div. A, title I, § 42(a)(1) , July 18, 1984 , 98 Stat. 556 ]
• § 1233 — Gains and losses from short sales
• § 1234 — Options to buy or sell
• § 1234A — Gains or losses from certain terminations
• § 1234B — Gains or losses from securities futures contracts
• § 1235 — Sale or exchange of patents
• § 1236 — Dealers in securities
• § 1237 — Real property subdivided for sale
• § 1238 — Repealed. Pub. L. 101–508, title XI, § 11801(a)(35) , Nov. 5, 1990 , 104 Stat. 1388–521 ]
• § 1239 — Gain from sale of depreciable property between certain related taxpayers
• § 124 — Repealed. Pub. L. 101–508, title XI, § 11801(a)(9) , Nov. 5, 1990 , 104 Stat. 1388–520 ]
• § 1240 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(139) , Oct. 4, 1976 , 90 Stat. 1787 ]
• § 1241 — Cancellation of lease or distributor’s agreement
• § 1242 — Losses on small business investment company stock
• § 1243 — Loss of small business investment company
• § 1244 — Losses on small business stock
• § 1245 — Gain from dispositions of certain depreciable property
• § 1246, 1247 — Repealed. Pub. L. 108–357, title IV, § 413(a)(2) , (3), Oct. 22, 2004 , 118 Stat. 1506 ]
• § 1248 — Gain from certain sales or exchanges of stock in certain foreign corporations
• § 1249 — Gain from certain sales or exchanges of patents, etc., to foreign corporations
• § 125 — Cafeteria plans
• § 1250 — Gain from dispositions of certain depreciable realty
• § 1251 — Repealed. Pub. L. 98–369, div. A, title IV, § 492(a) , July 18, 1984 , 98 Stat. 853 ]
• § 1252 — Gain from disposition of farm land
• § 1253 — Transfers of franchises, trademarks, and trade names
• § 1254 — Gain from disposition of interest in oil, gas, geothermal, or other mineral properties
• § 1255 — Gain from disposition of section 126 property
• § 1256 — Section 1256 contracts marked to market
• § 1257 — Disposition of converted wetlands or highly erodible croplands
• § 1258 — Recharacterization of gain from certain financial transactions
• § 1259 — Constructive sales treatment for appreciated financial positions
• § 126 — Certain cost-sharing payments
• § 1260 — Gains from constructive ownership transactions
• § 127 — Educational assistance programs
• § 1271 — Treatment of amounts received on retirement or sale or exchange of debt instruments
• § 1272 — Current inclusion in income of original issue discount
• § 1273 — Determination of amount of original issue discount
• § 1274 — Determination of issue price in the case of certain debt instruments issued for property
• § 1274A — Special rules for certain transactions where stated principal amount does not exceed $2,800,000
• § 1275 — Other definitions and special rules
• § 1276 — Disposition gain representing accrued market discount treated as ordinary income
• § 1277 — Deferral of interest deduction allocable to accrued market discount
• § 1278 — Definitions and special rules
• § 128 — Employer contributions to Trump accounts
• § 1281 — Current inclusion in income of discount on certain short-term obligations
• § 1282 — Deferral of interest deduction allocable to accrued discount
• § 1283 — Definitions and special rules
• § 1286 — Tax treatment of stripped bonds
• § 1287 — Denial of capital gain treatment for gains on certain obligations not in registered form
• § 1288 — Treatment of original issue discount on tax-exempt obligations
• § 129 — Dependent care assistance programs
• § 1291 — Interest on tax deferral
• § 1293 — Current taxation of income from qualified electing funds
• § 1294 — Election to extend time for payment of tax on undistributed earnings
• § 1295 — Qualified electing fund
• § 1296 — Election of mark to market for marketable stock
• § 1297 — Passive foreign investment company
• § 1298 — Special rules
• § 130 — Certain personal injury liability assignments
• § 1301 — Averaging of farm income
• § 131 — Certain foster care payments
• § 1311 — Correction of error
• § 1312 — Circumstances of adjustment
• § 1313 — Definitions
• § 1314 — Amount and method of adjustment
• § 1315 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(143) , Oct. 4, 1976 , 90 Stat. 1788 ]
• § 132 — Certain fringe benefits
• § 1321 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(144) , Oct. 4, 1976 , 90 Stat. 1788 ]
• § 133 — Repealed. Pub. L. 104–188, title I, § 1602(a) , Aug. 20, 1996 , 110 Stat. 1833 ]
• § 1331 to 1337 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(145)(A) , Oct. 4, 1976 , 90 Stat. 1788 ]
• § 134 — Certain military benefits
• § 1341 — Computation of tax where taxpayer restores substantial amount held under claim of right
• § 1342 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(147) , Oct. 4, 1976 , 90 Stat. 1788 ]
• § 1346 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(148) , Oct. 4, 1976 , 90 Stat. 1788 ]
• § 1347 — Repealed. Pub. L. 94–455, title XIX, § 1951(b)(12)(A) , Oct. 4, 1976 , 90 Stat. 1840 ]
• § 1348 — Repealed. Pub. L. 97–34, title I, § 101(c)(1) , Aug. 13, 1981 , 95 Stat. 183 ]
• § 135 — Income from United States savings bonds used to pay higher education tuition and fees
• § 1351 — Treatment of recoveries of foreign expropriation losses
• § 1352 — Alternative tax on qualifying shipping activities
• § 1353 — Notional shipping income
• § 1354 — Alternative tax election; revocation; termination
• § 1355 — Definitions and special rules
• § 1356 — Qualifying shipping activities
• § 1357 — Items not subject to regular tax; depreciation; interest
• § 1358 — Allocation of credits, income, and deductions
• § 1359 — Disposition of qualifying vessels
• § 136 — Energy conservation subsidies provided by public utilities
• § 1361 — S corporation defined
• § 1362 — Election; revocation; termination
• § 1363 — Effect of election on corporation
• § 1366 — Pass-thru of items to shareholders
• § 1367 — Adjustments to basis of stock of shareholders, etc.
• § 1368 — Distributions
• § 137 — Adoption assistance programs
• § 1371 — Coordination with subchapter C
• § 1372 — Partnership rules to apply for fringe benefit purposes
• § 1373 — Foreign income
• § 1374 — Tax imposed on certain built-in gains
• § 1375 — Tax imposed when passive investment income of corporation having accumulated earnings and profits exceeds 25 percent of gross receipts
• § 1377 — Definitions and special rule
• § 1378 — Taxable year of S corporation
• § 1379 — Transitional rules on enactment
• § 138 — Medicare Advantage MSA
• § 1381 — Organizations to which part applies
• § 1382 — Taxable income of cooperatives
• § 1383 — Computation of tax where cooperative redeems nonqualified written notices of allocation or nonqualified per-unit retain certificates
• § 1385 — Amounts includible in patron’s gross income
• § 1388 — Definitions; special rules
• § 139 — Disaster relief payments
• § 1391 — Designation procedure
• § 1392 — Eligibility criteria
• § 1393 — Definitions and special rules
• § 1394 — Tax-exempt enterprise zone facility bonds