Code of Federal Regulations (Last Updated: February 15, 2024) |
Title 26 - Internal Revenue |
Chapter I - Internal Revenue Service, Department of the Treasury |
SubChapter A - Income Tax |
Part 1 - Income Taxes |
Items Specifically Included in Gross Income |
§ 1.72-3 - Excludable amounts not income.
Latest version.
-
§ 1.72-3 Excludable amounts not income.
In general, amounts received under contracts described in paragraph (a)(1) of § 1.72-2 are not to be included in the income of the recipient to the extent that such amounts are excludable from gross income as the result of the application of section 72 and the regulations thereunder.