  We present a $40\,$ks Chandra observation of the IRAS$\,$20126+4104 core
region. In the inner $6^{\prime\prime}$ two X-ray sources were detected, which
are coincident with the radio jet source I20S and the variable radio source
I20Var. No X-ray emission was detected from the nearby massive protostar I20N.
The spectra of both detected sources are hard and highly absorbed, with no
emission below $3\,$keV.
  For I20S, the measured $0.5-8\,$keV count rate was $4.3\,$cts$\,$ks$^{-1}$.
The X-ray spectrum was fit with an absorbed 1T APEC model with an energy of
kT$\,=10\,$keV and an absorbing column of N$_H = 1.2\times 10^{23}\,$cm$^{-2}$.
An unabsorbed X-ray luminosity of about $1.4\times 10^{32}\,$erg$\,$s$^{-1}$
was estimated. The spectrum shows broad line emission between 6.4 and 6.7\,
keV, indicative of emission from both neutral and highly ionized iron. The
X-ray lightcurve indicates that I20S is marginally variable; however, no flare
emission was observed.
  The variable radio source I20Var was detected with a count rate of
$0.9\,$cts$\,$ks$^{-1}$ but there was no evidence of X-ray variability. The
best fit spectral model is a 1T APEC model with an absorbing hydrogen column of
N$_H = 1.1\times 10^{23}\,$cm$^{-2}$ and a plasma energy of kT = 6.0$\,$keV.
The unabsorbed X-ray luminosity is about $3\times 10^{31}\,$erg$\,$s$^{-1}$.
