---
kind: "section"
citation: "26 U.S.C. § 317"
title: "26"
title_heading: "Internal Revenue Code"
number: "317"
heading: "Other definitions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/26/317"
units:
  - "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. Other definitions

- (a) **Property—** For purposes of this part, the term “property” means money, [securities](/usc/26/368.md?p=a-2-F-vii), and any other property; except that such term does not include [stock](/usc/26/1504.md?p=a-4) in the corporation making the distribution (or rights to acquire such [stock](/usc/26/1504.md?p=a-4)).
- (b) **Redemption of stock—** For purposes of this part, [stock](/usc/26/1504.md?p=a-4) shall be treated as redeemed by a corporation if the corporation acquires its [stock](/usc/26/1504.md?p=a-4) from a shareholder in exchange for [property](#a), whether or not the [stock](/usc/26/1504.md?p=a-4) so acquired is cancelled, retired, or held as treasury [stock](/usc/26/1504.md?p=a-4).

## Source credit

(Aug. 16, 1954, ch. 736, 68A Stat. 99.)