Treasury Regulations · 26 CFR
§ 1.1015-3. Gift or transfer in trust before January 1, 1921.
Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).
Regulation under 26 U.S.C. § 1015
Cite as 26 CFR § 1.1015-3
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Source
- T.D. 6500, 25 FR 11402, Nov. 26, 1960; 25 FR 14021, Dec. 21, 1960; T.D. 9989, 89 FR 17606, Mar. 11, 2024, unless otherwise noted.
- Issued under
- 26 U.S.C. § 1015
- Length
- 142 words · about 1 min to read
- Cross-references
- cites 1 Code section and 1 regulation; cited by 0
¶(a) In the case of property acquired by gift or transfer in trust before January 1, 1921, the basis of such property is the fair market value thereof at the time of the gift or at the time of the transfer in trust.
¶(b) The principles stated in paragraph (b) of § 1.1015-1 concerning the uniform basis are applicable in determining the basis of property where more than one person acquires an interest in property by gift or transfer in trust before January 1, 1921. In addition, if an interest in such property was acquired from a decedent and the property had not been sold, exchanged, or otherwise disposed of before the death of the donor, the rules prescribed in section 1014 and the regulations thereunder are applicable in determining the basis of such property in the hands of the taxpayer.
Cross-references
Computed from the citations in the text of 26 CFR.
Code sections it cites
Regulations it cites
Where it sits in 26 CFR
- Subchapter A Income tax
- Part 1 Income taxes
- Basis Rules of General Application
Nearby sections
- § 1.1014-9 Special rule with respect to DISC stock.
- § 1.1014-10 Basis of property acquired from a decedent must be consistent with property's Federal estate tax value.
- § 1.1015-1 Basis of property acquired by gift after December 31, 1920.
- § 1.1015-2 Transfer of property in trust after December 31, 1920.
- § 1.1015-3 Gift or transfer in trust before January 1, 1921.
- § 1.1015-4 Transfers in part a gift and in part a sale.
- § 1.1015-5 Increased basis for gift tax paid.
- § 1.1016-1 Adjustments to basis; scope of section.
- § 1.1016-2 Items properly chargeable to capital account.