Treasury Regulations (26 C.F.R.)
26 CFR § 1.1033(a)-3
Involuntary conversion of principal residence.
Section 1033 shall apply in the case of property used by the taxpayer as his principal residence if the destruction, theft, seizure, requisition, or condemnation of such residence, or the sale or exchange of such residence under threat or imminence thereof, occurs before January 1, 1951, or after December 31, 1953. However, section 1033 shall not apply to the seizure, requisition, or condemnation (but not destruction), or the sale or exchange under threat or imminence thereof, of such residence property if the seizure, requisition, condemnation, sale, or exchange occurs after December 31, 1957, and if the taxpayer properly elects under section 1034(i) to treat the transaction as a sale (see paragraph (h)(2)(ii) of § 1.1034-1). See section 121 and paragraphs (d) and (g) of § 1.121-5 for special rules relating to the involuntary conversion of a principal residence of individuals who have attained age 65.
[T.D. 6856, 30 FR 13319, Oct. 20, 1965. Redesignated and amended by T.D. 7625, 44 FR 31013, May 30, 1979]
Source: view the official text
In this part (40 sections)
- 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 · Property held for productive use in trade or business or…
- 1.1031(a)-2 · Additional rules for exchanges of personal property.
- 1.1031(a)-3 · Definition of real property.
- 1.1031(b)-1 · Receipt of other property or money in tax-free exchange.
- 1.1031(b)-2 · Safe harbor for qualified intermediaries.
- 1.1031(c)-1 · Nonrecognition of loss.
- 1.1031(d)-1 · Property acquired upon a tax-free exchange.
- 1.1031(d)-1T · Coordination of section 1060 with section 1031…
- 1.1031(d)-2 · Treatment of assumption of liabilities.
- 1.1031(e)-1 · Exchange of livestock of different sexes.
- 1.1031(j)-1 · Exchanges of multiple properties.
- 1.1031(k)-1 · Treatment of deferred exchanges.
- 1.1032-1 · Disposition by a corporation of its own capital stock.
- 1.1032-2 · Disposition by a corporation of stock of a controlling…
- 1.1032-3 · Disposition of stock or stock options in certain…
- 1.1033(a)-1 · Involuntary conversions; nonrecognition of gain.
- 1.1033(a)-2 · Involuntary conversion into similar property, into money…
- 1.1033(a)-3 · Involuntary conversion of principal residence.
- 1.1033(b)-1 · Basis of property acquired as a result of an involuntary…
- 1.1033(c)-1 · Disposition of excess property within irrigation project…
- 1.1033(d)-1 · Destruction or disposition of livestock because of…
- 1.1033(e)-1 · Sale or exchange of livestock solely on account of…
- 1.1033(g)-1 · Condemnation of real property held for productive use in…
- 1.1033(h)-1 · Effective date.
- 1.1035-1 · Certain exchanges of insurance policies.
- 1.1036-1 · Stock for stock of the same corporation.
- 1.1037-1 · Certain exchanges of United States obligations.
- 1.1038-1 · Reacquisitions of real property in satisfaction of…
- 1.1038-2 · Reacquisition and resale of property used as a principal…
- 1.1038-3 · Election to have section 1038 apply for taxable years…
- 1.1039-1 · Certain sales of low-income housing projects.
- 1.1041-1T · Treatment of transfer of property between spouses or…
- 1.1041-2 · Redemptions of stock.
- 1.1042-1T · Questions and answers relating to the sales of stock to…
- 1.1044(a)-1 · Time and manner for making election under the Omnibus…
- 1.1045-1 · Application to partnerships.
- 1.1051-1 · Basis of property acquired during affiliation.