Section, act Aug. 16, 1954, ch. 736, 68A Stat. 295, related to the recognition of the entire amount of gain or loss determined under section 1001 on the sale or exchange of property.

Effective Date of Repeal

Repeal effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94-455, set out as an Effective Date of 1976 Amendment note under section 2 of this title.

PART II - BASIS RULES OF GENERAL APPLICATION

Sec.

1011.

Adjusted basis for determining gain or loss.

1012.

Basis of property - cost.

1013.

Basis of property included in inventory.

1014.

Basis of property acquired from a decedent.

1015.

Basis of property acquired by gifts and transfers in trust.

1016.

Adjustments to basis.

1017.

Discharge of indebtedness.

[1018.

Repealed.]

1019.

Property on which lessee has made improvements.

[1020.

Repealed.]

1021.

Sale of annuities.

1022.

Treatment of property acquired from a decedent dying after December 31, 2009.

1023.

Cross references.

[1024.

Renumbered.]

Amendments

2001 - Pub. L. 107-16, title V, Section 542(e)(6), June 7, 2001, 115 Stat. 86, added item 1022.

1980 - Pub. L. 96-589, Section 6(h)(2), Dec. 24, 1980, 94 Stat. 3410, struck out item 1018 "Adjustments of capital structure before September 22, 1938".

Pub. L. 96-223, title IV, Section 401(a), Apr. 2, 1980, 94 Stat. 299, repealed section 2005(e)(1) of Pub. L. 94-455 and the amendment made thereby. See 1986 Amendment note below.

1978 - Pub. L. 95-600, title V, Section 515(5), Nov. 6, 1978, 92 Stat. 2884, substituted "December 31, 1979" for "December 31, 1976" in item 1023.

1976 - Pub. L. 94-455, title XX, Section 2005(e)(1), Oct. 4, 1976, 90 Stat. 1878, which added item 1023 and redesignated former item 1023 as 1024, was repealed by Pub. L. 96-223, Section 401(a). See section 401(b), (e) of Pub. L. 96-223, set out as an Effective Date of 1980 Amendments and Revival of Prior Law note under section 1023 of this title.

Pub. L. 94-455, title XIX, Section 1901(b)(29)(B), (30)(C), Oct. 4, 1976, 90 Stat. 1799, struck out item 1020 "Election in respect of depreciation, etc., allowed before 1952", and item 1022 "Increase in basis with respect to certain foreign personal holding company stock or securities".

1964 - Pub. L. 88-272, title II, Section 225(j)(3), Feb. 26, 1964, 78 Stat. 93, added item 1022 and redesignated former item 1022 as 1023.