§453B. Gain or loss on disposition of installment obligations — Inbound Citations
26 U.S.C. § 453B
Cited by 4 provisions in release 119-102.
Citations to 26 U.S.C. § 453B as a whole
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(A) an amount equal to the excess of the face amount of such obligation over the basis of the obligation in the hands of the decedent (determined under section 453B) shall, for the purpose of paragraph (1), be considered as an item of gross income in respect of the decedent; and
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(B) such obligation shall, for purposes of paragraphs (2) and (3), be considered a right to receive an item of gross income in respect of the decedent, but the amount includible in gross income under paragraph (2) shall be reduced by an amount equal to the basis of the obligation in the hands of the decedent (determined under section 453B).
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(iii) Any installment obligation to which section 453B applies.
Citations to §453B(e)(3)
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(II) For purposes of subclause (I), the term “insurance business” means any business which is not a noninsurance business (within the meaning of section 453B(e)(3)).