### Question
How does the law define permitted property?


### Answer
Under *26 U.S.C. § 1043*, **permitted property** is defined as:

> any obligation of the United States or any diversified investment fund approved by regulations issued by the Office of Government Ethics

#### Citation:
  - *26 U.S.C. § 1043*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter O-Gain or Loss on Disposition of Property > PART III-COMMON NONTAXABLE EXCHANGES**

