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► 26 U.S.C. § 1011 26 u.s.c. · normal taxes and surtaxes · title 26
26 U.S.C. § 1011
Adjusted basis for determining gain or loss
Title 26 USC
● ACTIVE
Ch. 1
Jurisdiction Federal — United States
Chapter NORMAL TAXES AND SURTAXES
Primary Source uscode.house.gov ↗
Federation ID OM-USC26-SEC-6059F9
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2023 Edition 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 II - BASIS RULES OF GENERAL APPLICATION Sec. 1011 - Adjusted basis for determining gain or loss From the U.S. Government Publishing Office, www.gpo.gov

§1011. Adjusted basis for determining gain or loss

(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 the property.

(Aug. 16, 1954, ch. 736, 68A Stat. 296; Pub. L. 91–172, title II, §201(f), Dec. 30, 1969, 83 Stat. 564.)

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.

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The statutory text of 26 U.S.C. § 1011 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Internal Revenue Code — 26 U.S.C. § 1011