Internal Revenue Code · 26 U.S.C.
§ 1053. Property acquired before March 1, 1913
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 1053
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- September 2, 1958 by Pub. L. 85–866
- Length
- 113 words · about 1 min to read
- Cross-references
- cites 1; cited by 0 Code sections and 0 other regulations
- Regulations
- 1 issued under this section
In the case of property acquired before March 1, 1913, if the basis otherwise determined under this subtitle, adjusted (for the period before March 1, 1913) as provided in section 1016, is less than the fair market value of the property as of March 1, 1913, then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation as of March 1, 1913, due regard shall be given to the fair market value of the assets of the corporation as of that date.
(Aug. 16, 1954, ch. 736, 68A Stat. 311; Pub. L. 85–866, title I, § 47, Sept. 2, 1958, 72 Stat. 1642.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 1053
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Amendment history
From the source credit and the official notes, newest first.
- Enacted by Pub. L. 85–866
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter O Gain or Loss on Disposition of Property
- Part IV SPECIAL RULES
Nearby sections
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
1958—Pub. L. 85–866 substituted “subtitle” for “part”.
Statutory Notes and Related Subsidiaries
Effective Date of 1958 Amendment
Amendment by Pub. L. 85–866 applicable to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, see section 1(c)(1) of Pub. L. 85–866, set out as a note under section 165 of this title.