### Question
How does Income Taxes define excess distribution?


### Answer
Under *26 U.S.C. § 1291*, **excess distribution** is defined as:

> any distribution in respect of stock received during any taxable year to the extent such distribution does not exceed its ratable portion of the total excess distribution (if any) for such taxable year

#### Citation:
  - *26 U.S.C. § 1291*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter P-Capital Gains and Losses > PART VI-TREATMENT OF CERTAIN PASSIVE FOREIGN INVESTMENT COMPANIES > Subpart A-Interest on Tax Deferral**

