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26 U.S.C. § 1053

Property acquired before March 1, 1913

Official textInternal Revenue Code (Title 26 U.S.C.)uscode.house.govlast amended
Summarize

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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Nearby sections (25 sections)
  1. 1036 · Stock for stock of same corporation
  2. 1037 · Certain exchanges of United States obligations
  3. 1038 · Certain reacquisitions of real property
  4. 1039 · Repealed. Pub. L. 101–508, title XI, § 11801(a)(33), Nov. 5,…
  5. 1040 · Transfer of certain farm, etc., real property
  6. 1041 · Transfers of property between spouses or incident to divorce
  7. 1042 · Sales of stock to employee stock ownership plans or certain…
  8. 1043 · Sale of property to comply with conflict-of-interest requirements
  9. 1044 · Repealed. Pub. L. 115–97, title I, § 13313(a), Dec. 22, 2017,…
  10. 1045 · Rollover of gain from qualified small business stock to another…
  11. 1051 · Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(78), Dec.…
  12. 1052 · Basis established by the Revenue Act of 1932 or 1934 or by the…
  13. 1053 · Property acquired before March 1, 1913
  14. 1054 · Certain stock of Federal National Mortgage Association
  15. 1055 · Redeemable ground rents
  16. 1056 · Repealed. Pub. L. 108–357, title VIII, § 886(b)(1)(A), Oct. 22,…
  17. 1057 · Repealed. Pub. L. 105–34, title XI, § 1131(c)(2), Aug. 5, 1997,…
  18. 1058 · Transfers of securities under certain agreements
  19. 1059 · Corporate shareholder’s basis in stock reduced by nontaxed…
  20. 1059A · Limitation on taxpayer’s basis or inventory cost in property…
  21. 1060 · Special allocation rules for certain asset acquisitions
  22. 1061 · Partnership interests held in connection with performance of…
  23. 1062 · Gain from the sale or exchange of qualified farmland property to…
  24. 1063 · Cross references
  25. 1071 · Repealed. Pub. L. 104–7, § 2(a), Apr. 11, 1995, 109 Stat. 93
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