{"identifier":"/us/usc/t26/s997","title":26,"num":"\u00a7\u202f997.","heading":"Special subchapter C rules","text":"\u00a7\u202f997.\nSpecial subchapter C rules\nFor purposes of applying the provisions of subchapter C of chapter 1, any distribution in property to a corporation by a DISC or former DISC which is made out of previously taxed income or accumulated DISC income shall\u2014\n(1) be treated as a distribution in the same amount as if such distribution of property were made to an individual, and\n(2) have a basis, in the hands of the recipient corporation, equal to the amount determined under paragraph (1).","url":"https://projectusc.org/usc/t26/s997.html","content":[{"t":"sec","id":"/us/usc/t26/s997","children":[{"t":"num","text":"\u00a7\u202f997."},{"t":"heading","text":"Special subchapter C rules","tail":"\n"},{"t":"chapeau","text":"For purposes of applying the provisions of subchapter C of chapter 1, any distribution in property to a corporation by a DISC or former DISC which is made out of previously taxed income or accumulated DISC income shall\u2014"},{"t":"para","id":"/us/usc/t26/s997/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" be treated as a distribution in the same amount as if such distribution of property were made to an individual, and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s997/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" have a basis, in the hands of the recipient corporation, equal to the amount determined under paragraph (1).","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"}]}]}