Treasury Regulations · 26 CFR
§ 2.1-17. Basis of new vessel.
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. § 1
Cite as 26 CFR § 2.1-17
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Source
- T.D. 6820, 30 FR 6030, Apr. 29, 1965, unless otherwise noted.
- Issued under
- 26 U.S.C. § 1
- Length
- 92 words · about 1 min to read
- Cross-references
- cites 0 Code sections and 1 regulation; cited by 1
The basis for determining gain or loss and for depreciation for the purpose of the Federal income tax with respect to a new vessel constructed, reconstructed, reconditioned, or acquired by the taxpayer, or with respect to which purchase-money indebtedness is liquidated as provided in section 511(g) of the Act, with funds deposited in the construction reserve fund, is reduced by the amount of the unrecognized gain represented in the funds allocated under the provisions of the regulations in this part to the cost of such vessel. (See § 2.1-18.)
Cross-references
Computed from the citations in the text of 26 CFR.
Regulations it cites
Cited by 1 other regulation
Where it sits in 26 CFR
- Subchapter A Income tax
- Part 2 Maritime construction reserve fund
Nearby sections
- § 2.1-13 Deposit of proceeds of sales or indemnities.
- § 2.1-14 Deposit of earnings and receipts.
- § 2.1-15 Time for making deposits.
- § 2.1-16 Tax liability as to earnings deposited.
- § 2.1-17 Basis of new vessel.
- § 2.1-18 Allocation of gain for tax purposes.
- § 2.1-19 Requirements as to new vessels.
- § 2.1-20 Obligation of deposits.
- § 2.1-21 Period for construction of certain vessels.