FEDERAL · 26 U.S.C. · Chapter Subchapter O—Gain or Loss on Disposition of Property
Adjusted basis for determining gain or loss
26 U.S.C. § 1011
This text of 26 U.S.C. § 1011 (Adjusted basis for determining gain or loss) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 1011.
Text
(a)General rule
The adjusted basis for determining the gain or loss from the sale or other disposition of property, whenever acquired, shall be the basis (determined under section 1012 or other applicable sections of this subchapter and subchapters C (relating to corporate distributions and adjustments), K (relating to partners and partnerships), and P (relating to capital gains and losses)), adjusted as provided in section 1016.
(b)Bargain sale to a charitable organization
If a deduction is allowable under section 170 (relating to charitable contributions) by reason of a sale, then the adjusted basis for determining the gain from such sale shall be that portion of the adjusted basis which bears the same ratio to the adjusted basis as the amount realized bears to the fair market value of
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Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 296; Pub. L. 91–172, title II, §201(f), Dec. 30, 1969, 83 Stat. 564.)
Editorial Notes
Editorial Notes
Amendments
1969—Pub. L. 91–172 redesignated existing provisions as subsec. (a) and added subsec. (b).
Statutory Notes and Related Subsidiaries
Effective Date of 1969 Amendment
Amendment by Pub. L. 91–172 applicable with respect to sales made after Dec. 19, 1969, see section 201(g)(6) of Pub. L. 91–172, set out as a note under section 170 of this title.
Amendments
1969—Pub. L. 91–172 redesignated existing provisions as subsec. (a) and added subsec. (b).
Statutory Notes and Related Subsidiaries
Effective Date of 1969 Amendment
Amendment by Pub. L. 91–172 applicable with respect to sales made after Dec. 19, 1969, see section 201(g)(6) of Pub. L. 91–172, set out as a note under section 170 of this title.
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Bluebook (online)
26 U.S.C. § 1011, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/1011.