United States Code (Last Updated: May 24, 2014) |
Title 26. INTERNAL REVENUE CODE |
SubTitle A. Income Taxes |
Chapter 1. NORMAL TAXES AND SURTAXES |
SubChapter B. Computation of Taxable Income |
Part III. ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME |
§ 109. Improvements by lessee on lessor’s property
Latest version.
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Gross income does not include income (other than rent) derived by a lessor of real property on the termination of a lease, representing the value of such property attributable to buildings erected or other improvements made by the lessee.