26-U.S.C.-1053

§1053 – Property Acquired Before March 1, 1913

Pathway

Title 26 > Subtitle A > Chapter 1 > Subchapter O > Part IV > Section 1053

Details

• Reference: Section 1053
• Legend: §1053 – Property Acquired Before March 1, 1913
• USCode Year: 2013

Provision Content

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.

(Aug. 16, 1954, ch. 736, 68A Stat. 311; Pub. L. 85–866, title I, §47, Sept. 2, 1958, 72 Stat. 1642.)

Amendments

1958—Pub. L. 85–866 substituted subtitle for part.

Effective Date of 1958 Amendment

Amendment 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.

U.S. Encyclopedia of Law Coverage

26-U.S.C.-1045 in the Legal Encyclopedia: Income Taxes

In this entry about 26-U.S.C.-1045, find legal reference material, bibliographies and premiere content related to income taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States income taxes-specific issues, written by authorities in the field.

26-U.S.C.-1042 in the Legal Encyclopedia: Tax Liability

In this entry about 26-U.S.C.-1042, find legal reference material, bibliographies and premiere content related to tax liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax liability-specific issues, written by authorities in the field.

26-U.S.C.-1041 in the Legal Encyclopedia: Taxation

In this entry about 26-U.S.C.-1041, find legal reference material, bibliographies and premiere content related to taxation in the American Encyclopedia of Law, presenting a comprehensive view of the United States taxation-specific issues, written by authorities in the field.

26-U.S.C.-1043 in the Legal Encyclopedia: Liability

In this entry about 26-U.S.C.-1043, find legal reference material, bibliographies and premiere content related to liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States liability-specific issues, written by authorities in the field.

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