PART III - COMMON NONTAXABLE EXCHANGES

Sec.

1031.

Exchange of property held for productive use or investment.

1032.

Exchange of stock for property.

1033.

Involuntary conversions.

[1034.

Repealed.]

1035.

Certain exchanges of insurance policies.

1036.

Stock for stock of same corporation.

1037.

Certain exchanges of United States obligations.

1038.

Certain reacquisitions of real property.

[1039.

Repealed.]

1040.

Transfer of certain farm, etc., real property.

1041.

Transfers of property between spouses or incident to divorce.

1042.

Sales of stock to employee stock ownership plans or certain cooperatives.

1043.

Sale of property to comply with conflict-of-interest requirements.

1044.

Rollover of publicly traded securities gain into specialized small business investment companies.

1045.

Rollover of gain from qualified small business stock to another qualified small business stock.

Amendment of Analysis

Pub. L. 107-16, title V, Section 542(d)(2), (f)(1), title IX, Section 901, June 7, 2001, 115 Stat. 84, 86, 150, provided that, applicable to estates of decedents dying after Dec. 31, 2009, item 1040 is temporarily amended to read as follows: "Use of appreciated carryover basis property to satisfy pecuniary bequest".

Amendments

1997 - Pub. L. 105-34, title III, Sections 312(d)(15), 313(b)(3), Aug. 5, 1997, 111 Stat. 841, 842, struck out item 1034 "Rollover of gain on sale of principal residence" and added item 1045.

1993 - Pub. L. 103-66, title XIII, Section 13114(c), Aug. 10, 1993, 107 Stat. 431, added item 1044.

1990 - Pub. L. 101-508, title XI, Section 11801(b)(8), Nov. 5, 1990, 104 Stat. 1388-522, struck out item 1039 "Certain sales of low-income housing projects".

1989 - Pub. L. 101-194, title V, Section 502(b)(3), Nov. 30, 1989, 103 Stat. 1755, added item 1043.

1986 - Pub. L. 99-514, title XVIII, Section 1854(a)(12), Oct. 22, 1986, 100 Stat. 2878, substituted "employee stock ownership plans or certain cooperatives" for "employees" in item 1042.

1984 - Pub. L. 98-369, div. A, title IV, Section 421(c), title V, Section 541(b)(3), July 18, 1984, 98 Stat. 794, 890, added items 1041 and 1042.

1981 - Pub. L. 97-34, title IV, Section 421(j)(2)(C), Aug. 13, 1981, 95 Stat. 312, substituted "Transfer of certain farm, etc., real property" for "Use of farm, etc., real property to satisfy pecuniary bequest" in item 1040.

1980 - Pub. L. 96-223, title IV, Section 401(a), (c)(2)(B), Apr. 2, 1980, 94 Stat. 299, 300, amended item 1040 generally and repealed Pub. L. 94-455, Section 2005(e)(1), and the amendment made thereby. See 1976 Amendment note below.

1978 - Pub. L. 95-600, title IV, Section 405(c)(2), Nov. 6, 1978, 92 Stat. 2871, substituted "Rollover of gain on sale of principal residence" for "Sale or exchange of residence" in item 1034.

1976 - Pub. L. 94-455, title XX, Section 2005(e)(2), Oct. 4, 1976, 90 Stat. 1878, which added item 1040, 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.

1969 - Pub. L. 91-172, title IX, Section 910(c), Dec. 30, 1969, 83 Stat. 722, added item 1039.

1964 - Pub. L. 88-570, Section 2(b), Sept. 2, 1964, 78 Stat. 856, added item 1038.

1959 - Pub. L. 86-346, title II, Section 201(b), Sept. 22, 1959, 73 Stat. 623, added item 1037.