OAKMOREL Forensic Intelligence // [email protected]
► 26 U.S.C. § 1059A 26 u.s.c. · normal taxes and surtaxes · title 26
26 U.S.C. § 1059A
Limitation on taxpayer's basis or inventory cost in property imported from related persons
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-91BE24
► 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 IV - SPECIAL RULES Sec. 1059A - Limitation on taxpayer's basis or inventory cost in property imported from related persons From the U.S. Government Publishing Office, www.gpo.gov

§1059A. Limitation on taxpayer's basis or inventory cost in property imported from related persons

(a) In general If any property is imported into the United States in a transaction (directly or indirectly) between related persons (within the meaning of section 482), the amount of any costs— (1) which are taken into account in computing the basis or inventory cost of such property by the purchaser, and (2) which are also taken into account in computing the customs value of such property,

shall not, for purposes of computing such basis or inventory cost for purposes of this chapter, be greater than the amount of such costs taken into account in computing such customs value. (b) Customs value; import For purposes of this section— (1) Customs value The term "customs value" means the value taken into account for purposes of determining the amount of any customs duties or any other duties which may be imposed on the importation of any property. (2) Import Except as provided in regulations, the term "import" means the entering, or withdrawal from warehouse, for consumption.

(Added Pub. L. 99–514, title XII, §1248(a), Oct. 22, 1986, 100 Stat. 2584.)

Statutory Notes and Related Subsidiaries

Effective Date Pub. L. 99–514, title XII, §1248(c), Oct. 22, 1986, 100 Stat. 2584, provided that: "The amendments made by this section [enacting this section] shall apply to transactions entered into after March 18, 1986."

Source: uscode.house.gov — public domain Official Source ↗
► ROOT-LD ENTITY DATA machine-readable · federation graph · v1.0
Federation ID
OM-USC26-SEC-91BE24
Entity Class
STATUTE / FEDERAL-CODE-SECTION
Domain Signature
oakmorel.com
Spec Version
Root-LD v1.0
Source
PRIMARY-SOURCE
Content Hash
487a0dfd82cfec2f...
Source Verified
✓ TRUE
Semantic Edges
PENDING — corpus passes queued
The statutory text of 26 U.S.C. § 1059A 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).
► NAVIGATE CORPUS title 26 · internal revenue code
← 26 U.S.C. § 1059 26 U.S.C. § 1060 →
Chapter 1 — NORMAL TAXES AND SURTAXES
26 U.S.C. § 126 U.S.C. § 226 U.S.C. § 326 U.S.C. § 426 U.S.C. § 526 U.S.C. § 1126 U.S.C. § 1226 U.S.C. § 1526 U.S.C. § 2126 U.S.C. § 2226 U.S.C. § 2326 U.S.C. § 2426 U.S.C. § 2526 U.S.C. § 25A26 U.S.C. § 25B26 U.S.C. § 25C26 U.S.C. § 25D26 U.S.C. § 25E26 U.S.C. § 2626 U.S.C. § 2726 U.S.C. § 2826 U.S.C. § 2926 U.S.C. § 3026 U.S.C. § 30A
26 U.S.C. — public domain ← All Legislation
OakMorel Law
26 U.S.C.
Citation
26 U.S.C. § 1059A
Status
● ACTIVE
Chapter
1 — NORMAL TAXES AND SURTAXES
Title
Internal Revenue Code
Jurisdiction
Federal
Federation ID
OM-USC26-SEC-91BE24
Root-LD Spec
v1.0
► Forensic Services
Procurement fraud, platform integrity, litigation support. First conversation free.
► CONTACT OAKMOREL →
↑↓ Scroll ENTER Select ESC Exit
Internal Revenue Code — 26 U.S.C. § 1059A