2017 US Code
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
| 26 U.S.C. § 1053 (2017) |
| §1053. Property acquired before March 1, 1913 |
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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. |
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(Aug. 16, 1954, ch. 736, 68A Stat. 311; Pub. L. 85–866, title I, §47, Sept. 2, 1958, 72 Stat. 1642.) |
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AMENDMENTS
1958—Pub. L. 85–866 substituted "subtitle" for "part". EFFECTIVE DATE OF 1958 AMENDMENTAmendment 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. |
| United States Code, 2012 Edition, Supplement 5, Title 26 - INTERNAL REVENUE CODE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| 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 |
| section 1053 |
| 2017 |
| January 12, 2018 |
| No |
| standard |
| 72 Stat. 1642 |
| Public Law 85-866 |
