§1281. Current inclusion in income of discount on certain short-term obligations — Inbound Citations
26 U.S.C. § 1281
Cited by 6 provisions in release 119-102.
Citations to 26 U.S.C. § 1281 as a whole
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(1) This section shall not apply to any short-term obligation to which section 1281 applies.
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(A) A taxpayer may make an election under this paragraph to have section 1281 apply to all short-term obligations acquired by the taxpayer on or after the 1st day of the 1st taxable year to which such election applies.
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(A) sections 1281 and 1282 shall be applied by taking into account original issue discount in lieu of acquisition discount, and
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(2) Section 1281 shall not require the inclusion of any amount previously includible in gross income.
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(3) Section 454(b) and paragraphs (3) and (4) of section 1271(a) shall not apply to any short-term obligation to which section 1281 applies.
Citations to §1281(a)
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(ii) any amount treated as ordinary income under section 1271(a)(3)(A), 1276, or 1281(a) with respect to such property for the taxable year,