### Question
How does the law define net proceeds?


### Answer
Under *26 U.S.C. § 7871*, **net proceeds** is defined as:

> given such term by section 150(a)(3).

#### Citation:
  - *26 U.S.C. § 7871*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 80-GENERAL RULES > Subchapter C-Provisions Affecting More Than One Subtitle**

