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United States Code (Last Updated: May 24, 2014) |
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Title 26. INTERNAL REVENUE CODE |
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SubTitle A. Income Taxes |
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Chapter 1. NORMAL TAXES AND SURTAXES |
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SubChapter O. Gain or Loss on Disposition of Property |
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Part II. BASIS RULES OF GENERAL APPLICATION |
§ 1016. Adjustments to basis
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(a) General rule Proper adjustment in respect of the property shall in all cases be made— (1) for expenditures, receipts, losses, or other items, properly chargeable to capital account, but no such adjustment shall be made— (A) for taxes or other carrying charges described in section 266, or (B) for expenditures described in section 173 (relating to circulation expenditures), for which deductions have been taken by the taxpayer in determining taxable income for the taxable year or prior taxable years; (2) in respect of any period since February 28, 1913 , for exhaustion, wear and tear, obsolescence, amortization, and depletion, to the extent of the amount—(A) allowed as deductions in computing taxable income under this subtitle or prior income tax laws, and (B) resulting (by reason of the deductions so allowed) in a reduction for any taxable year of the taxpayer’s taxes under this subtitle (other than chapter 2, relating to tax on self-employment income), or prior income, war-profits, or excess-profits tax laws, but not less than the amount allowable under this subtitle or prior income tax laws. Where no method has been adopted under section 167 (relating to depreciation deduction), the amount allowable shall be determined under the straight line method. Subparagraph (B) of this paragraph shall not apply in respect of any period since February 28, 1913 , and beforeJanuary 1, 1952 , unless an election has been made under section 1020 (as in effect before the date of the enactment of the Tax Reform Act of 1976). Where for any taxable year before the taxable year 1932 the depletion allowance was based on discovery value or a percentage of income, then the adjustment for depletion for such year shall be based on the depletion which would have been allowable for such year if computed without reference to discovery value or a percentage of income;(3) in respect of any period— (A) before March 1, 1913 ,(B) since February 28, 1913 , during which such property was held by a person or an organization not subject to income taxation under this chapter or prior income tax laws,(C) since February 28, 1913 , and beforeJanuary 1, 1958 , during which such property was held by a person subject to tax under part I of subchapter L (or the corresponding provisions of prior income tax laws), to the extent that paragraph (2) does not apply, and(D) since February 28, 1913 , during which such property was held by a person subject to tax under part II(23) in the case of property the acquisition of which resulted under section 1043, 1044, 1045, or 1397B in the nonrecognition of any part of the gain realized on the sale of other property, to the extent provided in section 1043(c), 1044(d), 1045(b)(3), or 1397B(b)(4), as the case may be,2 (24) to the extent provided in section 179A(e)(6)(A),2 (25) to the extent provided in section 30(e)(1),2 (26) to the extent provided in sections 23(g) and 137(e),2 (27) in the case of a residence with respect to which a credit was allowed under section 1400C, to the extent provided in section 1400C(h),2 (28) in the case of a facility with respect to which a credit was allowed under section 45F, to the extent provided in section 45F(f)(1),2 (29) in the case of railroad track with respect to which a credit was allowed under section 45G, to the extent provided in section 45G(e)(3),2 (30) to the extent provided in section 179B(c),2 (31) to the extent provided in section 179D(e),2 (32) to the extent provided in section 45L(e), in the case of amounts with respect to which a credit has been allowed under section 45L,2 (33) to the extent provided in section 25C(f), in the case of amounts with respect to which a credit has been allowed under section 25C,2 (34) to the extent provided in section 25D(f), in the case of amounts with respect to which a credit has been allowed under section 25D,2 (35) to the extent provided in section 30B(h)(4),2 (36) to the extent provided in section 30C(e)(1),2 and (37) to the extent provided in section 30D(f)(1). (b) Substituted basis Whenever it appears that the basis of property in the hands of the taxpayer is a substituted basis, then the adjustments provided in subsection (a) shall be made after first making in respect of such substituted basis proper adjustments of a similar nature in respect of the period during which the property was held by the transferor, donor, or grantor, or during which the other property was held by the person for whom the basis is to be determined. A similar rule shall be applied in the case of a series of substituted bases.
(c) Increase in basis of property on which additional estate tax is imposed (1) Tax imposed with respect to entire interest If an additional estate tax is imposed under section 2032A(c)(1) with respect to any interest in property and the qualified heir makes an election under this subsection with respect to the imposition of such tax, the adjusted basis of such interest shall be increased by an amount equal to the excess of— (A) the fair market value of such interest on the date of the decedent’s death (or the alternate valuation date under section 2032, if the executor of the decedent’s estate elected the application of such section), over (B) the value of such interest determined under section 2032A(a). (2) Partial dispositions (A) In general In the case of any partial disposition for which an election under this subsection is made, the increase in basis under paragraph (1) shall be an amount— (i) which bears the same ratio to the increase which would be determined under paragraph (1) (without regard to this paragraph) with respect to the entire interest, as (ii) the amount of the tax imposed under section 2032A(c)(1) with respect to such disposition bears to the adjusted tax difference attributable to the entire interest (as determined under section 2032A(c)(2)(B)). (B) Partial disposition For purposes of subparagraph (A), the term “partial disposition” means any disposition or cessation to which subsection (c)(2)(D), (h)(1)(B), or (i)(1)(B) of section 2032A applies.
(3) Time adjustment made Any increase in basis under this subsection shall be deemed to have occurred immediately before the disposition or cessation resulting in the imposition of the tax under section 2032A(c)(1).
(4) Special rule in the case of substituted property If the tax under section 2032A(c)(1) is imposed with respect to qualified replacement property (as defined in section 2032A(h)(3)(B)) or qualified exchange property (as defined in section 2032A(i)(3)), the increase in basis under paragraph (1) shall be made by reference to the property involuntarily converted or exchanged (as the case may be).
(5) Election (A) In general An election under this subsection shall be made at such time and in such manner as the Secretary shall by regulations prescribe. Such an election, once made, shall be irrevocable.
(B) Interest on recaptured amount If an election is made under this subsection with respect to any additional estate tax imposed under section 2032A(c)(1), for purposes of section 6601 (relating to interest on underpayments), the last date prescribed for payment of such tax shall be deemed to be the last date prescribed for payment of the tax imposed by section 2001 with respect to the estate of the decedent (as determined for purposes of section 6601).
(d) Reduction in basis of automobile on which gas guzzler tax was imposed If— (1) the taxpayer acquires any automobile with respect to which a tax was imposed by section 4064, and (2) the use of such automobile by the taxpayer begins not more than 1 year after the date of the first sale for ultimate use of such automobile, the basis of such automobile shall be reduced by the amount of the tax imposed by section 4064 with respect to such automobile. In the case of importation, if the date of entry or withdrawal from warehouse for consumption is later than the date of the first sale for ultimate use, such later date shall be substituted for the date of such first sale in the preceding sentence. (e) Cross reference For treatment of separate mineral interests as one property, see section 614.
References In Text
Section 1020, referred to in subsec. (a)(2), was repealed by Pub. L. 94–455, title XIX, § 1901(a)(125),
The Tax Reform Act of 1976, referred to in subsec. (a)(2), is Pub. L. 94–455,
Part II of subchapter L, referred to in subsec. (a)(3)(D), was repealed and part III of subchapter L was redesignated as part II by Pub. L. 99–514, title X, § 1024(a)(1), (2),
The Revenue Act of 1918 (40 Stat. 1057), referred to in subsec. (a)(4), is act Feb. 24, 1919, ch. 18, 40 Stat. 1057. For complete classification of this Act to the Code, see Tables.
The Revenue Act of 1921 (42 Stat. 227), referred to in subsec. (a)(4), is act Nov. 23, 1921, ch. 136, 42 Stat. 227. For complete classification of this Act to the Code, see Tables.
Section 218 of the Revenue Act of 1918 or 1921, referred to in subsec. (a)(4), was not classified to the Code.
The date of the enactment of the Taxpayer Relief Act of 1997, referred to in subsec. (a)(7), is the date of enactment of Pub. L. 105–34, which was approved
Section 28 of the Internal Revenue Code of 1939, referred to in subsec. (a)(12), was classified to section 28 of former Title 26, Internal Revenue Code. Section 28 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.
Codification
Section 10909(b)(2)(L) of Pub. L. 111–148, which directed the amendment of section 1016(a)(26) without specifying the act to be amended, was executed to this section, which is section 1016 of the Internal Revenue Code of 1986, to reflect the probable intent of Congress. See 2010 Amendment note below.
Amendments
2010—Subsec. (a)(26). Pub. L. 111–148, § 10909(b)(2)(L), (c), as amended by Pub. L. 111–312, temporarily substituted “36C(g)” for “23(g)”. See Codification note above and Effective and Termination Dates of 2010 Amendment note below.
2009—Subsec. (a)(25). Pub. L. 111–5, § 1142(b)(6), substituted “section 30(e)(1)” for “section 30(d)(1)”.
Subsec. (a)(37). Pub. L. 111–5, § 1141(b)(3), which directed amendment of subsec. (a)(25) by substituting “section 30D(f)(1)” for “section 30D(e)(4)”, was executed by making the substitution in subsec. (a)(37) to reflect the probable intent of Congress.
2008—Subsec. (a)(37). Pub. L. 110–343 added par. (37).
2007—Subsec. (a)(31), (32). Pub. L. 110–172, § 7(a)(1)(C), redesignated pars. (32) and (33) as (31) and (32), respectively, and struck out former par. (31) which read as follows: “in the case of a facility with respect to which a credit was allowed under section 45H, to the extent provided in section 45H(d),”.
Subsec. (a)(33). Pub. L. 110–172, § 11(a)(21), substituted “section 25C(f)” for “section 25C(e)”.
Pub. L. 110–172, § 7(a)(1)(C), redesignated par. (34) as (33). Former par. (33) redesignated (32).
Subsec. (a)(34), (35). Pub. L. 110–172, § 7(a)(1)(C), redesignated pars. (35) and (36) as (34) and (35), respectively. Former par. (34) redesignated (33).
Subsec. (a)(36). Pub. L. 110–172, § 11(a)(22), substituted “section 30C(e)(1)” for “section 30C(f)”.
Pub. L. 110–172, § 7(a)(1)(C), redesignated par. (37) as (36). Former par. (36) redesignated (35).
Subsec. (a)(37). Pub. L. 110–172, § 7(a)(1)(C), redesignated par. (37) as (36).
2005—Subsec. (a)(23). Pub. L. 109–135 substituted “1045(b)(3)” for “1045(b)(4)”.
Subsec. (a)(32). Pub. L. 109–58, § 1331(b)(1), added par. (32).
Subsec. (a)(33). Pub. L. 109–58, § 1332(c), added par. (33).
Subsec. (a)(34). Pub. L. 109–58, § 1333(b)(1), added par. (34).
Subsec. (a)(35). Pub. L. 109–58, § 1335(b)(4), added par. (35).
Subsec. (a)(36). Pub. L. 109–58, § 1341(b)(2), added par. (36).
Subsec. (a)(37). Pub. L. 109–58, § 1342(b)(2), added par. (37).
2004—Subsec. (a)(13). Pub. L. 108–357, § 413(c)(19), struck out par. (13) which read as follows: “to the extent provided in section 551(e) in the case of the stock of United States shareholders in a foreign personal holding company;”.
Subsec. (a)(29). Pub. L. 108–357, § 245(c)(2), added par. (29).
Subsec. (a)(30). Pub. L. 108–357, § 338(b)(4), added par. (30).
Subsec. (a)(31). Pub. L. 108–357, § 339(d), added par. (31).
2001—Subsec. (a)(28). Pub. L. 107–16 added par. (28).
2000—Subsec. (a)(23). Pub. L. 106–554 substituted “1045, or 1397B” for “or 1045” and “1045(b)(4), or 1397B(b)(4)” for “or 1045(b)(4)”.
1997—Subsec. (a)(7). Pub. L. 105–34, § 312(d)(6), inserted “(as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997)” after “section 1034” and “(as so in effect)” after “section 1034(e)”.
Subsec. (a)(23). Pub. L. 105–34, § 313(b)(1), substituted “, 1044, or 1045” for “or 1044” and “, 1044(d), or 1045(b)(4)” for “or 1044(d)”.
Subsec. (a)(27). Pub. L. 105–34, § 701(b)(2), added par. (27).
1996—Subsec. (a)(20). Pub. L. 104–188, § 1704(t)(56), provided that section 11813(b)(19) of Pub. L. 101–508 shall be applied as if “Paragraph (20) of section 1016(a), as redesignated by section 11801,” appeared instead of “paragraph (21) of section 1016(a)”. See 1990 Amendment note below.
Subsec. (a)(26). Pub. L. 104–188, § 1807(c)(5), added par. (26).
1993—Subsec. (a)(19) to (23). Pub. L. 103–66, § 13261(f)(3), redesignated pars. (20) to (24) as (19) to (23), respectively, and struck out former par. (19) which read as follows: “for amounts allowed as deductions for payments made on account of transfers of franchises, trademarks, or trade names under section 1253(d)(2);”.
Subsec. (a)(24). Pub. L. 103–66, § 13261(f)(3), redesignated par. (25) as (24). Former par. (24) redesignated (23).
Pub. L. 103–66, § 13114(b), substituted “section 1043 or 1044” for “section 1043” and “section 1043(c) or 1044(d), as the case may be” for “section 1043(c)”.
Subsec. (a)(25), (26). Pub. L. 103–66, § 13261(f)(3), redesignated pars. (25) and (26) as (24) and (25), respectively.
Subsec. (e). Pub. L. 103–66, § 13213(a)(2)(F), amended heading and text of subsec. (e) generally. Prior to amendment, text read as follows:
“(1) For treatment of certain expenses incident to the purchase of a residence which were deducted as moving expenses by the taxpayer or his spouse under section 217(a), see section 217(e).
“(2) For treatment of separate mineral interests as one property, see section 614.”
1992—Subsec. (a)(25), (26). Pub. L. 102–486 added pars. (25) and (26).
1990—Subsec. (a)(2). Pub. L. 101–508, § 11812(b)(10), substituted “under the straight line method” for “under section 167(b)(1)” in concluding provisions.
Subsec. (a)(20). Pub. L. 101–508, § 11813(b)(19), which directed the amendment of subsec. (a)(21) by striking “section 48(q)” and inserting “section 50(c)”, was executed to subsec. (a)(20). See 1996 Amendment note above.
Pub. L. 101–508, § 11801(c)(1), redesignated par. (21) as (20) and struck out former par. (20) which read as follows: “to the extent provided in section 23(e), in the case of property with respect to which a credit has been allowed under section 23;”.
Subsec. (a)(21) to (25). Pub. L. 101–508, § 11801(c)(1), redesignated pars. (21) to (25) as (20) to (24), respectively.
1989—Subsec. (a)(25). Pub. L. 101–194 added par. (25).
1988—Subsec. (a)(5). Pub. L. 100–647, § 1006(j)(1)(B), inserted “(or the amount applied to reduce interest payments under section 171(e)(2))” after “allowable pursuant to section 171(a)(1)”.
Subsec. (a)(21) to (26). Pub. L. 100–647, § 1018(u)(22), added pars. (21) to (24) and struck out former pars. (23) to (26) which read as follows:
“(23) to the extent provided in section 48(q) in the case of expenditures with respect to which a credit has been allowed under section 38;
“(24) for amounts allowed as deductions under section 59(d) (relating to optional 10-year writeoff of certain tax preferences);
“(25) to the extent provided in section 1059 (relating to reduction in basis for extraordinary dividends); and
“(26) in the case of qualified replacement property, the acquisition of which resulted under section 1042 in the nonrecognition of any part of the gain realized on the sale or exchange of any property, to the extent provided in section 1042(c).”
Former pars. (21) and (22) had been struck out previously.
1986—Subsec. (a). Pub. L. 99–514, § 1899A(25), which directed the amendment of pars. (23) to (26) by substituting a semicolon for a comma at the end thereof was executed to pars. (24) to (26) in view of the prior repeal of par. (23).
Pub. L. 99–514, § 1303(b)(3), which directed the amendment of subsec. (a) by striking out par. (22) and redesignating pars. (23) to (27) as (22) to (26), respectively, was executed by striking out par. (21) to reflect the probable intent of Congress in view of the amendment by section 241(b)(2) of Pub. L. 99–514. Prior to the amendment, par. (21) read as follows: “to the extent provided in section 1395 in the case of stock of shareholders of a general stock ownership corporation (as defined in section 1391) which makes the election provided by section 1392;”.
Pub. L. 99–514, § 241(b)(2), redesignated pars. (17) to (27) as (16) to (26), respectively, and struck out former par. (16) which read as follows: “for amounts allowed as deductions for expenditures treated as deferred expenses under section 177 (relating to trademark and trade name expenditures) and resulting in a reduction of the taxpayer’s taxes under this subtitle, but not less than the amounts allowable under such section for the taxable year and prior years;”.
Subsec. (a)(24). Pub. L. 99–514, § 701(e)(4)(D), substituted “section 59(d)” for “section 58(i)”.
1984—Subsec. (a)(17). Pub. L. 98–369, § 211(b)(14), substituted “section 811(b)” for “section 818(b)” in two places.
Subsec. (a)(21). Pub. L. 98–369, § 474(r)(23), substituted “section 23(e)” for “section 44C(e)” and “section 23” for “section 44C”.
Subsec. (a)(26). Pub. L. 98–369, § 53(d)(3), added par. (26).
Subsec. (a)(27). Pub. L. 98–369, § 541(b)(2), added par. (27).
Subsec. (b). Pub. L. 98–369, § 43(a)(2), struck out “The term ‘substituted basis’ as used in this section means a basis determined under any provision 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), or under any corresponding provision of a prior income tax law, providing that the basis shall be determined (1) by reference to the basis in the hands of a transferor, donor, or grantor, or (2) by reference to other property held at any time by the person for whom the basis is to be determined.” See section 7701(a)(42) of this title.
1982—Subsec. (a)(18). Pub. L. 97–354 substituted “section 1367” for “section 1376”, “indebtedness owed to” for “indebtedness owing”, and “an S corporation” for “an electing small business corporation (as defined in section 1371(b))”.
Subsec. (a)(24). Pub. L. 97–248, § 205(a)(5)(B), substituted “to the extent provided in section 48(q)” for “to the extent provided in section 48(g)(5)”.
Subsec. (a)(25). Pub. L. 97–248, § 201(c)(2), added par. (25).
1981—Subsec. (a)(24). Pub. L. 97–34, § 212(d)(2)(G), added par. (24).
Subsec. (c). Pub. L. 97–34, § 421(g), substituted provisions respecting increase in basis of property on which additional estate tax is imposed for provisions for increase in basis in the case of certain involuntary conversions, if such compulsory or involuntary conversions are within the meaning of section 1033, and an additional estate tax is imposed under section 2032A, and provisions respecting time adjustment made.
1980—Subsec. (a)(22). Pub. L. 96–222, § 106(a)(2), redesignated par. (21), relating to the extent provided in section 1395 in the case of stock of shareholders of a general stock ownership corporation, as (22).
Subsec. (a)(23). Pub. L. 96–223, § 401(a), repealed the amendments made by Pub. L. 94–455, § 2005(a)(3), and Pub. L. 95–600, § 702(r)(3). See 1976 and 1978 Amendment notes below.
Subsec. (c). Pub. L. 96–223, § 401(c)(1), struck out provision relating to the net appreciation of in value of certain property and struck out references to section 1023 of this title.
1978—Subsec. (a)(21). Pub. L. 95–618, § 101(b)(3), added par. (21) relating to an adjustment to the extent provided in section 44C.
Pub. L. 95–600, § 601(b)(3), as amended by Pub. L. 96–222, § 106(a)(3), added par. (21) relating to an adjustment to the extent provided in section 1395.
Subsec. (a)(23). Pub. L. 95–600, § 702(r)(3), which redesignated par. (23) as (21), was repealed by Pub. L. 96–222, § 107(a)(2)(C), and Pub. L. 96–223, § 401(a). See Repeals note below.
Pub. L. 95–600, § 515(2), substituted “
Subsec. (c). Pub. L. 95–472 added subsec. (c). Former subsec. (c) redesignated (d).
Subsec. (d). Pub. L. 95–618, § 201(b), added subsec. (d). Former subsec. (d) redesignated (e).
Pub. L. 95–472 redesignated former subsec. (c) as (d).
Subsec. (e). Pub. L. 95–618, § 201(b), redesignated former subsec. (d) as (e).
1976—Subsec. (a)(2). Pub. L. 94–455, § 1901(b)(29)(A), inserted “(as in effect before the date of the enactment of the Tax Reform Act of 1976)” after “under section 1020”.
Subsec. (a)(10). Pub. L. 94–455, § 1901(b)(21)(G), struck out par. (10) which related to adjustment for the amounts allowed as deductions as deferred expenses under section 615(b) of this title.
Subsec. (a)(13). Pub. L. 94–455, § 1901(b)(1)(F)(ii), substituted “section 551(e)” for “section 551(f)”.
Subsec. (a)(19). Pub. L. 94–455, § 1901(a)(123), (b)(30)(A), redesignated par. (20) as (19). Former par. (19), which related to adjustment of section 38 property to the extent provided in sections 48(g) and 203 of this title, was struck out.
Subsec. (a)(20). Pub. L. 94–455, § 1901(b)(30)(A), redesignated par. (22) as (20). Former par. (20) redesignated (19).
Subsec. (a)(21). Pub. L. 94–455, § 1901(b)(30)(A), struck out par. (21) which related to property adjustment to the extent provided in section 1022 of this title.
Subsec. (a)(22). Pub. L. 94–455, § 1901(b)(30)(A), redesignated par. (22) as (20).
Subsec. (a)(23). Pub. L. 94–455, § 2005(a)(3), added par. (23). See Repeals note below.
1969—Subsec. (a)(22). Pub. L. 91–172, § 516(c)(2)(B), added par. (22).
Subsec. (a)(10). Pub. L. 91–172, § 504(c)(4), limited exploration expenditures referred to in this par. to pre-1970 exploration expenditures.
Subsec. (c). Pub. L. 91–172, § 231(c)(3), redesignated existing provisions as par. (2) and added par. (1).
1964—Subsec. (a)(15). Pub. L. 88–272, § 227(b)(5), inserted “or domestic iron ore”.
Subsec. (a)(19). Pub. L. 88–272, § 203(a)(3)(C), inserted “and in section 203(a)(2) of the Revenue Act of 1964”.
Subsec. (a)(21). Pub. L. 88–272, § 225(j)(2), added par. (21).
1962—Subsec. (a)(3)(D). Pub. L. 87–834, § 8(g)(2), added subpar. (D).
Subsec. (a)(19). Pub. L. 87–834, § 2(f), added par. (19).
Subsec. (a)(20). Pub. L. 87–834, § 12(b)(4), added par. (20).
1959—Subsec. (a)(3)(C). Pub. L. 86–69, § 3(d)(1), added subpar. (C).
Subsec. (a)(17). Pub. L. 86–69, § 3(d)(2), added par. (17).
1958—Subsec. (a)(6). Pub. L. 85–866, § 2(b), struck out “short-term” before “municipal bond”.
Subsec. (a)(18). Pub. L. 85–866, § 64(d)(2), added par. (18).
1956—Subsec. (a)(16). Act
Effective Date Of Amendment
Amendment by Pub. L. 111–148 terminated applicable to taxable years beginning after
Amendment by Pub. L. 111–148 applicable to taxable years beginning after
Amendment by section 1141(b)(3) of Pub. L. 111–5 applicable to vehicles acquired after
Amendment by section 1142(b)(6) of Pub. L. 111–5 applicable to vehicles acquired after
Amendment by Pub. L. 110–343 applicable to taxable years beginning after
Amendment by section 7(a)(1)(C) of Pub. L. 110–172 effective as if included in the provision of the American Jobs Creation Act of 2004, Pub. L. 108–357, to which such amendment relates, see section 7(e) of Pub. L. 110–172, set out as a note under section 1092 of this title.
Amendment by section 1331(b)(1) of Pub. L. 109–58 applicable to property placed in service after
Amendment by section 1332(c) of Pub. L. 109–58 applicable to qualified new energy efficient homes acquired after
Amendment by section 1333(b)(1) of Pub. L. 109–58 applicable to property placed in service after
Amendment by section 1335(b)(4) of Pub. L. 109–58 applicable to property placed in service after
Amendment by section 1341(b)(2) of Pub. L. 109–58 applicable to property placed in service after
Amendment by section 1342(b)(2) of Pub. L. 109–58 applicable to property placed in service after
Amendment by section 245(c)(2) of Pub. L. 108–357 applicable to taxable years beginning after
Amendment by section 338(b)(4) of Pub. L. 108–357 applicable to expenses paid or incurred after
Amendment by section 339(d) of Pub. L. 108–357 applicable to expenses paid or incurred after
Amendment by section 413(c)(19) of Pub. L. 108–357 applicable to taxable years of foreign corporations beginning after
Amendment by Pub. L. 107–16 applicable to taxable years beginning after
Pub. L. 106–554, § 1(a)(7) [title I, § 116(c)],
Amendment by section 312(d)(6) of Pub. L. 105–34 applicable to sales and exchanges after
Pub. L. 105–34, title III, § 313(c),
Amendment by section 701(b)(2) of Pub. L. 105–34 effective
Amendment by section 1807(c)(5) of Pub. L. 104–188 applicable to taxable years beginning after
Pub. L. 103–66, title XIII, § 13114(d),
Amendment by section 13213(a)(2)(F) of Pub. L. 103–66 applicable to expenses incurred after
Amendment by section 13261(f)(3) of Pub. L. 103–66 applicable, except as otherwise provided, with respect to property acquired after
Amendment by Pub. L. 102–486 applicable to property placed in service after
Amendment by section 11812(b)(10) of Pub. L. 101–508 applicable to property placed in service after
Amendment by section 11813(b)(19) of Pub. L. 101–508 applicable to property placed in service after
Pub. L. 101–194, title V, § 502(c),
Amendment by section 1006(j)(1)(B) of Pub. L. 100–647 applicable in the case of obligations acquired after
Amendment by section 1018(u)(22) of Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Amendment by section 241(b)(2) of Pub. L. 99–514 applicable to expenditures paid or incurred after
Amendment by section 701(e)(4)(D) of Pub. L. 99–514 applicable to taxable years beginning after
Amendment by section 1303(b)(3) of Pub. L. 99–514 effective
Amendment by section 43(a)(2) of Pub. L. 98–369 applicable to taxable years ending after
Amendment by section 53(d)(3) of Pub. L. 98–369 applicable to distribution after
Amendment by section 211(b)(14) of Pub. L. 98–369 applicable to taxable years beginning after
Amendment by section 474(r)(23) of Pub. L. 98–369 applicable to taxable years beginning after
Amendment by section 541(b)(2) of Pub. L. 98–369 applicable to sales of securities in taxable years beginning after
Amendment by Pub. L. 97–354 applicable to taxable years beginning after
Amendment by section 201(c)(2) of Pub. L. 97–248 applicable to taxable years beginning after
Amendment by section 205(a)(5)(B) of Pub. L. 97–248 applicable to periods after
Amendment by section 212(d)(2)(G) of Pub. L. 97–34 applicable to expenditures incurred after
Amendment by section 421(g) of Pub. L. 97–34 applicable with respect to the estates of decedents dying after
Amendment by section 401(a) of Pub. L. 96–223 (repealing section 2005(a)(3) of Pub. L. 94–455 and section 702(r)(3) of Pub. L. 96–500 and the amendments made thereby, which had amended this section) applicable in respect of decedents dying after
Amendment by Pub. L. 96–222 effective, except as otherwise provided, as if it had been included in the provisions of the Revenue Act of 1978, Pub. L. 95–600, to which such amendment relates, see section 201 of Pub. L. 96–222, set out as an Effective Date of 1980 Amendment note under section 32 of this title.
Pub. L. 95–618, title I, § 101(c),
Amendment by section 201(b) of Pub. L. 95–618 applicable with respect to 1980 and later model year automobiles, see section 201(g) of Pub. L. 95–618, set out as an Effective Date note under section 4064 of this title.
Amendment by section 601(b)(3) of Pub. L. 95–600 effective with respect to corporations chartered after
Amendment by section 702(r)(3) of Pub. L. 95–600 applicable to estates of decedents dying after
Pub. L. 95–472, § 4(d),
Amendment by section 1901(a)(123), (b)(1)(F)(ii), (21)(G), (29)(A) of Pub. L. 94–455 applicable with respect to taxable years beginning after
Pub. L. 94–455, title XIX, § 1901(b)(30)(B),
Amendment by section 2005(a)(3) of Pub. L. 94–455 applicable in respect of decedents dying after
Amendment by section 231(c)(3) of Pub. L. 91–172 applicable to taxable years beginning after
Amendment by section 504(c)(4) of Pub. L. 91–172 applicable with respect to exploration expenditures paid or incurred after
Amendment by section 516(c)(2)(B) of Pub. L. 91–172 applicable to transfers after
Amendment by section 203(a)(3)(C) of Pub. L. 88–272 applicable in case of property placed in service after
Amendment by section 225(j)(2) of Pub. L. 88–272 applicable in respect of decedents dying after
Amendment by section 227(b)(5) of Pub. L. 88–272 applicable with respect to amounts received or accrued in taxable years beginning after
Amendment by section 2(f) of Pub. L. 87–834 applicable with respect to taxable years ending after
Amendment by section 8(g)(2) of Pub. L. 87–834 applicable with respect to taxable years beginning after
Amendment by section 12(b)(1) of Pub. L. 87–834 applicable with respect to taxable years of foreign corporations beginning after
Amendment by Pub. L. 86–69 applicable only with respect to taxable years beginning after
Amendment by section 2(b) of Pub. L. 85–866 applicable with respect to taxable years ending after
Amendment by section 64(d)(2) of Pub. L. 85–866 applicable only with respect to taxable years beginning after
Repeals
Section 2005(a)(3) of Pub. L. 94–455 and section 702(r)(3) of Pub. L. 95–600, cited as credits to this section, and the amendments made by those sections, were repealed by Pub. L. 96–223, title IV, § 401(a), 94 Stat. 299, resulting in the text of this section reading as it read prior to enactment of sections 2005(a)(3) and 702(r)(3). See Effective Date of 1980 Amendments and Revival of Prior Law note above.
Savings
For provisions that nothing in amendment by Pub. L. 101–508 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to
Miscellaneous
For applicability of amendment by section 701(e)(4)(D) of Pub. L. 99–514 notwithstanding any treaty obligation of the United States in effect on
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after
Pub. L. 85–866, title I, § 94,