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Internal Revenue Code · 26 U.S.C.

§ 1059A. Limitation on taxpayer’s basis or inventory cost in property imported from related persons

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

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. § 1059A

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Added
October 22, 1986 by Pub. L. 99–514
Length
2 subsections · 177 words · about 1 min to read
Defines
2 terms
Cross-references
cites 1; cited by 0 Code sections and 2 other regulations
Regulations
1 issued under this section
(a) In general If any property is imported into the United States in a transaction (directly or indirectly) between related persons (within the meaning of section 482), the amount of any costs—
(1) which are taken into account in computing the basis or inventory cost of such property by the purchaser, and
(2) which are also taken into account in computing the customs value of such property,
shall not, for purposes of computing such basis or inventory cost for purposes of this chapter, be greater than the amount of such costs taken into account in computing such customs value.
(b) Customs value; import For purposes of this section—
(1) Customs value

The term “customs value” means the value taken into account for purposes of determining the amount of any customs duties or any other duties which may be imposed on the importation of any property.

(2) Import

Except as provided in regulations, the term “import” means the entering, or withdrawal from warehouse, for consumption.

(Added Pub. L. 99–514, title XII, § 1248(a), Oct. 22, 1986, 100 Stat. 2584.)

Terms defined here

Where the text says “the term … means”. Select a term to jump to its definition.

Regulations under this section

Treasury regulations (26 CFR) issued under § 1059A

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 1 other section

Cited in 2 regulations not issued under it

Amendment history

From the source credit and the official notes, newest first.

  1. Added by Pub. L. 99–514

Where it sits in the Code

  1. Subtitle A Income Taxes
  2. Chapter 1 NORMAL TAXES AND SURTAXES
  3. Subchapter O Gain or Loss on Disposition of Property
  4. Part IV SPECIAL RULES

Nearby sections

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Statutory Notes and Related Subsidiaries

Effective Date

Pub. L. 99–514, title XII, § 1248(c), Oct. 22, 1986, 100 Stat. 2584, provided that: “The amendments made by this section [enacting this section] shall apply to transactions entered into after March 18, 1986.”