Date of Download: Sep 14, 2001

USCA (United States Code Annotated)

26 USCA S 1012

Copr. © West 2001 No Claim to Orig. U.S. Govt. Works

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26 U.S.C.A. § 1012 I.R.C. § 1012

UNITED STATES CODE ANNOTATED

TITLE 26. INTERNAL REVENUE CODE

SUBTITLE A--INCOME TAXES

CHAPTER 1--NORMAL TAXES AND SURTAXES

SUBCHAPTER O--GAIN OR LOSS ON DISPOSITION OF PROPERTY

PART II--BASIS RULES OF GENERAL APPLICATION

Copr. © West Group 2001. No claim to Orig. U.S. Govt. Works.

Current through P.L. 107-11, approved 5-28-01

§ 1012. Basis of property--cost

The basis of property shall be the cost of such property, except as otherwise provided in this subchapter and subchapters C (relating to corporate distributions and adjustments), K (relating to partners and partnerships), and P (relating to capital gains and losses). The cost of real property shall not include any amount in respect of real property taxes which are treated under section 164(d) as imposed on the taxpayer.

CREDIT(S)

1988 Main Volume

(Aug. 16, 1954, c. 736, 68A Stat. 296.)