The neutron-induced reaction cross sections of 242m Am were measured at the Los Alamos Neutron Science Center using the Detector for Advanced Neutron-Capture Experiments array along with a compact parallel-plate avalanche counter for fission-fragment detection. A new neutron-capture cross section was determined, and the absolute scale was set according to a concurrent measurement of the well-known 242m Am(n,f) cross section. The (n,γ) cross section was measured from thermal to an incident energy of 1 eV at which point the data quality was limited by the reaction yield in the laboratory. Our new 242m Am fission cross section was normalized to ENDF/B-VII.1 to set the absolute scale, and it agreed well with the (n,f) cross section reported by Browne et al. from thermal energy to 1 keV. The average absolute capture-to-fission ratio was determined from thermal to En = 0.1 eV, and it was found to be 26(4)% as opposed to the ratio of 19% from the ENDF/B-VII.1 evaluation.