Title 26

SECTION 1.72-3

1.72-3 Excludable amounts not income.

§ 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.

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