United States IRC sections
Statute section
IRC section 1341
Computation of tax where taxpayer restores substantial amount held under claim of right
Country
United States
Section
1341
Updated
2026-05-20
Operative text
Section 1341 provides a tax computation benefit when a taxpayer who previously included an amount in gross income under a claim of right is later required to return all or part of it. The taxpayer may compute tax in the year of repayment using the more favorable of two methods.
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Primary sources
- 26 U.S.C. section 1341Verified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.