Treasury Regulations (26 C.F.R.)
26 CFR § 1.1398-3
Treatment of section 121 exclusion in individuals' title 11 cases.
Official textecfr.govlast amended
# (a) Scope.
This section applies to cases under chapter 7 or chapter 11 of title 11 of the United States Code, but only if the debtor is an individual.
# (b) Definition and rules of general application.
For purposes of this section, section 121 exclusion means the exclusion of gain from the sale or exchange of a debtor's principal residence available under section 121.
# (c) Estate succeeds to exclusion upon commencement of case.
The bankruptcy estate succeeds to and takes into account the section 121 exclusion with respect to the property transferred into the estate.
# (d) Effective date.
This section is applicable for sales or exchanges on or after December 24, 2002.
[67 FR 78367, Dec. 24, 2002]
Source: view the official text
In this part (40 sections)
- 1.1378-1 · Taxable year of S corporation.
- 1.1374-1A · Tax imposed on certain capital gains.
- 1.1381-1 · Organizations to which part applies.
- 1.1381-2 · Tax on certain farmers' cooperatives.
- 1.1382-1 · Taxable income of cooperatives; gross income.
- 1.1382-2 · Taxable income of cooperatives; treatment of patronage…
- 1.1382-3 · Taxable income of cooperatives; special deductions for…
- 1.1382-4 · Taxable income of cooperatives; payment period for each…
- 1.1382-5 · Taxable income of cooperatives; products marketed under…
- 1.1382-6 · Taxable income of cooperatives; treatment of earnings…
- 1.1382-7 · Special rules applicable to cooperative associations exempt…
- 1.1383-1 · Computation of tax where cooperative redeems nonqualified…
- 1.1385-1 · Amounts includible in patron's gross income.
- 1.1388-1 · Definitions and special rules.
- 1.1394-0 · Table of contents.
- 1.1394-1 · Enterprise zone facility bonds.
- 1.1396-1 · Qualified zone employees.
- 1.1397E-1 · Qualified zone academy bonds.
- 1.1398-1 · Treatment of passive activity losses and passive activity…
- 1.1398-2 · Treatment of section 465 losses in individuals' title 11…
- 1.1398-3 · Treatment of section 121 exclusion in individuals' title 11…
- 1.1400L(b)-1 · (b)-1 Additional first year depreciation deduction for…
- 1.1400Z2-0 · Table of Contents.
- 1.1400Z2(a)-1 · (a)-1 Deferring tax on capital gains by investing in…
- 1.1400Z2(b)-1 · (b)-1 Inclusion of gains that have been deferred under…
- 1.1400Z2(c)-1 · (c)-1 Investments held for at least 10 years.
- 1.1400Z2(d)-1 · (d)-1 Qualified opportunity funds and qualified…
- 1.1400Z2(d)-2 · (d)-2 Qualified opportunity zone business property.
- 1.1400Z2(e)-1 · (e)-1 [Reserved]
- 1.1400Z2(f)-1 · (f)-1 Administrative rules- penalties, anti-abuse, etc.
- 1.1401-1 · Tax on self-employment income.
- 1.1402(a)-1 · (a)-1 Definition of net earnings from self-employment.
- 1.1402(a)-2 · (a)-2 Computation of net earnings from self-employment.
- 1.1402(a)-3 · (a)-3 Special rules for computing net earnings from…
- 1.1402(a)-4 · (a)-4 Rentals from real estate.
- 1.1402(a)-5 · (a)-5 Dividends and interest.
- 1.1402(a)-6 · (a)-6 Gain or loss from disposition of property.
- 1.1402(a)-7 · (a)-7 Net operating loss deduction.
- 1.1402(a)-8 · (a)-8 Community income.
- 1.1402(a)-9 · (a)-9 Puerto Rico.