### Question
How is the "produced film rents" defined?


### Answer
The term **produced film rents** is defined in *26 U.S.C. § 543* as follows -

> payments received with respect to an interest in a film for the use of, or right to use, such film, but only to the extent that such interest was acquired before substantial completion of production of such film

#### Citation:
  - *26 U.S.C. § 543*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter G-Corporations Used to Avoid Income Tax on Shareholders > PART II-PERSONAL HOLDING COMPANIES**

