Internal Revenue Code · 26 U.S.C.
§ 1063. Cross references
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. § 1063
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- September 14, 1960 by Pub. L. 86–779
- Last amended
- July 4, 2025 by Pub. L. 119–21
- Amendments
- 8 dated changes in the source credit
- Length
- 2 subsections · 210 words · about 1 min to read
(Aug. 16, 1954, ch. 736, 68A Stat. 311, § 1054; renumbered § 1055, Pub. L. 86–779, § 8(b), Sept. 14, 1960, 74 Stat. 1003; renumbered § 1056, Pub. L. 88–9, § 1(b), Apr. 10, 1963, 77 Stat. 7; renumbered § 1057, Pub. L. 94–455, title II, § 212(a)(1), Oct. 4, 1976, 90 Stat. 1545; renumbered § 1058, Pub. L. 94–455, title X, § 1015(c), Oct. 4, 1976, 90 Stat. 1618; renumbered § 1059, Pub. L. 95–345, § 2(d)(1), Aug. 15, 1978, 92 Stat. 482; renumbered § 1060, Pub. L. 98–369, div. A, title I, § 53(a), July 18, 1984, 98 Stat. 565; renumbered § 1061 and amended, Pub. L. 99–514, title VI, § 641(a), title XVIII, § 1899A(27), Oct. 22, 1986, 100 Stat. 2282, 2960; Pub. L. 109–304, § 17(e)(5), Oct. 6, 2006, 120 Stat. 1708; renumbered § 1062, Pub. L. 115–97, title I, § 13309(a)(1), Dec. 22, 2017, 131 Stat. 2130; renumbered § 1063, Pub. L. 119–21, title VII, § 70437(a), July 4, 2025, 139 Stat. 248.)
Amendment history
From the source credit and the official notes, newest first.
- Amended by Pub. L. 119–21
- Amended by Pub. L. 115–97
- Amended by Pub. L. 109–304
- Amended by Pub. L. 99–514
- Amended by Pub. L. 98–369
- Amended by Pub. L. 95–345
- Amended by Pub. L. 94–455
- Amended by Pub. L. 88–9
- Enacted by Pub. L. 86–779
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
- § 1059A Limitation on taxpayer’s basis or inventory cost in property imported from related persons
- § 1060 Special allocation rules for certain asset acquisitions
- § 1061 Partnership interests held in connection with performance of services
- § 1062 Gain from the sale or exchange of qualified farmland property to qualified farmers
- § 1063 Cross references
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
2025—Pub. L. 119–21 renumbered section 1062 of this title as this section.
2017—Pub. L. 115–97 renumbered section 1061 of this title as this section.
2006—Par. (1). Pub. L. 109–304, § 17(e)(5)(A), substituted “chapter 573 of title 46, United States Code, see section 57307 of title 46” for “section 510 of the Merchant Marine Act, 1936, see subsection (e) of that section, as amended August 4, 1939 (46 U.S.C. App. 1160)”.
Par. (2). Pub. L. 109–304, § 17(e)(5)(B), substituted “chapter 533 of title 46, United States Code” for “section 511 of such Act, as amended (46 U.S.C. App. 1161)”.
Par. (3). Pub. L. 109–304, § 17(e)(5)(C), struck out par. (3), which read as follows: “For nonrecognition of gain in connection with vessels exchanged with the Maritime Administration under section 8 of the Merchant Ship Sales Act of 1946, see subsection (a) of that section (50 U.S.C. App. 1741).”
1986—Pub. L. 99–514, § 641(a), renumbered section 1060 of this title as this section.
Pars. (1), (2). Pub. L. 99–514, § 1899A(27), which directed the amendment of pars. (1) and (2) of section 1060 by substituting “46 U.S.C. App.” for “46 U.S.C.” was executed to section 1061 to reflect the probable intent of Congress in view of the renumbering of section 1060 as 1061 by section 641(a) of Pub. L. 99–514.
Statutory Notes and Related Subsidiaries
Effective Date of 2025 Amendment
Amendment by Pub. L. 119–21 applicable to sales or exchanges in taxable years beginning after July 4, 2025, see section 70437(c) of Pub. L. 119–21, set out as an Effective Date note under section 1062 of this title.