### Question
How does the law define leaseback or long-term agreement?


### Answer
Under *26 U.S.C. § 467*, **leaseback or long-term agreement** is defined as:

> any agreement described in subsection (b)(4)(A)

#### Citation:
  - *26 U.S.C. § 467*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart C-Taxable Year for Which Deductions Taken**

