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26 U.S.C. · Internal Revenue Code
26 U.S.C. § 1053

Property acquired before March 1, 1913

Ch. 1 — NORMAL TAXES AND SURTAXES
Title 26 U.S.C. ● ACTIVE Primary Source Ch. 1
Statutory Text

26 U.S.C. § 1053 — Property acquired before March 1, 1913

U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2023 Edition Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter O - Gain or Loss on Disposition of Property PART IV - SPECIAL RULES Sec. 1053 - Property acquired before March 1, 1913 From the U.S. Government Publishing Office, www.gpo.gov

§1053. Property acquired before March 1, 1913

In the case of property acquired before March 1, 1913, if the basis otherwise determined under this subtitle, adjusted (for the period before March 1, 1913) as provided in section 1016, is less than the fair market value of the property as of March 1, 1913, then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation as of March 1, 1913, due regard shall be given to the fair market value of the assets of the corporation as of that date.

(Aug. 16, 1954, ch. 736, 68A Stat. 311; Pub. L. 85–866, title I, §47, Sept. 2, 1958, 72 Stat. 1642.)

Editorial Notes

Amendments 1958—Pub. L. 85–866 substituted "subtitle" for "part".

Statutory Notes and Related Subsidiaries

Effective Date of 1958 Amendment Amendment by Pub. L. 85–866 applicable to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, see section 1(c)(1) of Pub. L. 85–866, set out as a note under section 165 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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boisestandard.org
Citation
26 U.S.C. § 1053
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The statutory text of 26 U.S.C. § 1053 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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