### Question
Can you define what short-term obligation means?


### Answer
**Short-term obligation** is defined as the following in *26 U.S.C. § 1283*:

> any bond, debenture, note, certificate, or other evidence of indebtedness which has a fixed maturity date not more than 1 year from the date of issue

#### Citation:
  - *26 U.S.C. § 1283*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter P-Capital Gains and Losses > PART V-SPECIAL RULES FOR BONDS AND OTHER DEBT INSTRUMENTS > Subpart C-Discount on Short-Term Obligations**

