Internal Revenue Code:Sec. 1052. Basis established by the Revenue Act of 1932 or 1934 or by the Internal Revenue Code of 1939

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle A - Income Taxes
       CHAPTER 1 - NORMAL TAXES AND SURTAXES
        Subchapter O - Gain or Loss on Disposition of Property
         PART IV - SPECIAL RULES
       

Statute

    Sec. 1052. Basis established by the Revenue Act of 1932 or 1934 or
        by the Internal Revenue Code of 1939
 
    (a) Revenue Act of 1932
      If the property was acquired, after February 28, 1913, in any
    taxable year beginning before January 1, 1934, and the basis
    thereof, for purposes of the Revenue Act of 1932 was prescribed by
    section 113(a)(6), (7), or (9) of such Act (47 Stat. 199), then for
    purposes of this subtitle the basis shall be the same as the basis
    therein prescribed in the Revenue Act of 1932.
    (b) Revenue Act of 1934
      If the property was acquired, after February 28, 1913, in any
    taxable year beginning before January 1, 1936, and the basis
    thereof, for purposes of the Revenue Act of 1934, was prescribed by
    section 113(a)(6), (7), or (8) of such Act (48 Stat. 706), then for
    purposes of this subtitle the basis shall be the same as the basis
    therein prescribed in the Revenue Act of 1934.
    (c) Internal Revenue Code of 1939
      If the property was acquired, after February 28, 1913, in a
    transaction to which the Internal Revenue Code of 1939 applied, and
    the basis thereof, for purposes of the Internal Revenue Code of
    1939, was prescribed by section 113(a)(6), (7), (8), (13), (15),
    (18), (19), or (23) of such code, then for purposes of this
    subtitle the basis shall be the same as the basis therein
    prescribed in the Internal Revenue Code of 1939.
 

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 310.)
 

References in Text

                             REFERENCES IN TEXT
      Revenue Act of 1932, referred to in section catchline and subsec.
    (a), is act June 6, 1932, ch. 209, 47 Stat. 169. For complete
    classification of the Act to the Code, see Tables.
      Revenue Act of 1934, referred to in section catchline and subsec.
    (b), is act May 10, 1934, ch. 277, 48 Stat. 680. For complete
    classification of this Act to the Code, see Tables.
      The Internal Revenue Code of 1939, referred to in section
    catchline and subsec. (c), is act Feb. 10, 1939, ch. 2, 53 Stat. 1,
    as amended.  Prior to the enactment of the Internal Revenue Code of
    1986 (formerly I.R.C. 1954), the 1939 Code was classified to former
    Title 26, Internal Revenue Code. For Table comparisons of the 1939
    Code to the 1986 Code, see table I preceding section 1 of this
    title.
      Section 113 of the Internal Revenue Code of 1939, referred to in
    subsec. (c), was classified to section 113 of former Title 26,
    Internal Revenue Code. Section 113 was repealed by section
    7851(a)(1)(A) of this title.  For table of comparisons of the 1939
    Code to the 1986 Code, see Table I preceding section 1 of this
    title.  See, also, section 7851(e) of this title for provision that
    references in the 1986 Code to a provision of the 1939 Code, not
    then applicable, shall be deemed a reference to the corresponding
    provision of the 1986 Code, which is then applicable.
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 307, 1223 of this title.