Cancellation of A Lease

Cancellation of A Lease

The Cancellation of A Lease are.

payment received by a tenant on the cancellation of a lease is treated as proceeds received in a Section 1231 transaction. Payments received by a tenant on a personal residence are treated as capital gain. Payments received by a landlord are reported as rental income.

See also Capital Gain in the American Legal Encyclopedia and Capital Gain in the World Legal Encyclopedia.


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