### Question
What does player contract mean?


### Answer
**Player contract** has the following meaning in *26 U.S.C. § 1245*:

> any contract for the services of an athlete which, in the hands of the taxpayer, is of a character subject to the allowance for depreciation provided in section 167

#### Citation:
  - *26 U.S.C. § 1245*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter P-Capital Gains and Losses > PART IV-SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES**

