### Question
How is the term debt instrument defined?


### Answer
The term **debt instrument** is defined in *26 U.S.C. § 108* as the following:

> a bond, debenture, note, certificate, or any other instrument or contractual arrangement constituting indebtedness (within the meaning of section 1275(a)(1))

#### Citation:
  - *26 U.S.C. § 108*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART III-ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME**

