Treasury Regulations (26 C.F.R.)
26 CFR § 1.1015-3
Gift or transfer in trust before January 1, 1921.
# (a)
In the case of property acquired by gift or transfer in trust before January 1, 1921, the basis of such property is the fair market value thereof at the time of the gift or at the time of the transfer in trust.
# (b)
The principles stated in paragraph (b) of § 1.1015-1 concerning the uniform basis are applicable in determining the basis of property where more than one person acquires an interest in property by gift or transfer in trust before January 1, 1921. In addition, if an interest in such property was acquired from a decedent and the property had not been sold, exchanged, or otherwise disposed of before the death of the donor, the rules prescribed in section 1014 and the regulations thereunder are applicable in determining the basis of such property in the hands of the taxpayer.
Source: view the official text
In this part (40 sections)
- 1.1001-7 · Computation of gain or loss for digital assets.
- 1.1002-1 · Sales or exchanges.
- 1.1011-1 · Adjusted basis.
- 1.1011-2 · Bargain sale to a charitable organization.
- 1.1012-1 · Basis of property.
- 1.1012-2 · Transfers in part a sale and in part a gift.
- 1.1013-1 · Property included in inventory.
- 1.1014-0 · Table of contents.
- 1.1014-1 · Basis of property acquired from a decedent.
- 1.1014-2 · Property acquired from a decedent.
- 1.1014-3 · Other basis rules.
- 1.1014-4 · Uniformity of basis; adjustment to basis.
- 1.1014-5 · Gain or loss.
- 1.1014-6 · Special rule for adjustments to basis where property is…
- 1.1014-7 · Example applying rules of §§ 1.1014-4 through 1.1014-6 to…
- 1.1014-8 · Bequest, devise, or inheritance of a remainder interest.
- 1.1014-9 · Special rule with respect to DISC stock.
- 1.1014-10 · Basis of property acquired from a decedent must be…
- 1.1015-1 · Basis of property acquired by gift after December 31, 1920.
- 1.1015-2 · Transfer of property in trust after December 31, 1920.
- 1.1015-3 · Gift or transfer in trust before January 1, 1921.
- 1.1015-4 · Transfers in part a gift and in part a sale.
- 1.1015-5 · Increased basis for gift tax paid.
- 1.1016-1 · Adjustments to basis; scope of section.
- 1.1016-2 · Items properly chargeable to capital account.
- 1.1016-3 · Exhaustion, wear and tear, obsolescence, amortization, and…
- 1.1016-4 · Exhaustion, wear and tear, obsolescence, amortization, and…
- 1.1016-5 · Miscellaneous adjustments to basis.
- 1.1016-6 · Other applicable rules.
- 1.1016-10 · Substituted basis.
- 1.1017-1 · Basis reductions following a discharge of indebtedness.
- 1.1019-1 · Property on which lessee has made improvements.
- 1.1020-1 · Election as to amounts allowed in respect of depreciation,…
- 1.1021-1 · Sale of annuities.
- 1.1031-0 · Table of contents.
- 1.1031(a)-1 · (a)-1 Property held for productive use in trade or…
- 1.1031(a)-2 · (a)-2 Additional rules for exchanges of personal property.
- 1.1031(a)-3 · (a)-3 Definition of real property.
- 1.1031(b)-1 · (b)-1 Receipt of other property or money in tax-free…
- 1.1031(b)-2 · (b)-2 Safe harbor for qualified intermediaries.