OAKMOREL Forensic Intelligence // [email protected]
► 26 U.S.C. § 307 26 u.s.c. · normal taxes and surtaxes · title 26
26 U.S.C. § 307
Basis of stock and stock rights acquired in distributions
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-A092BF
► 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 C - Corporate Distributions and Adjustments PART I - DISTRIBUTIONS BY CORPORATIONS Subpart A - Effects on Recipients Sec. 307 - Basis of stock and stock rights acquired in distributions From the U.S. Government Publishing Office, www.gpo.gov

§307. Basis of stock and stock rights acquired in distributions

(a) General rule If a shareholder in a corporation receives its stock or rights to acquire its stock (referred to in this subsection as "new stock") in a distribution to which section 305(a) applies, then the basis of such new stock and of the stock with respect to which it is distributed (referred to in this section as "old stock"), respectively, shall, in the shareholder's hands, be determined by allocating between the old stock and the new stock the adjusted basis of the old stock. Such allocation shall be made under regulations prescribed by the Secretary. (b) Exception for certain stock rights (1) In general If— (A) a corporation distributes rights to acquire its stock to a shareholder in a distribution to which section 305(a) applies, and (B) the fair market value of such rights at the time of the distribution is less than 15 percent of the fair market value of the old stock at such time,

then subsection (a) shall not apply and the basis of such rights shall be zero, unless the taxpayer elects under paragraph (2) of this subsection to determine the basis of the old stock and of the stock rights under the method of allocation provided in subsection (a). (2) Election The election referred to in paragraph (1) shall be made in the return filed within the time prescribed by law (including extensions thereof) for the taxable year in which such rights were received. Such election shall be made in such manner as the Secretary may by regulations prescribe, and shall be irrevocable when made. (c) Cross reference For basis of stock and stock rights distributed before June 22, 1954, see section 1052.

(Aug. 16, 1954, ch. 736, 68A Stat. 93; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)

Editorial Notes

Amendments 1976—Subsecs. (a), (b)(2). Pub. L. 94–455 struck out "or his delegate" after "Secretary".

Source: uscode.house.gov — public domain Official Source ↗
► ROOT-LD ENTITY DATA machine-readable · federation graph · v1.0
Federation ID
OM-USC26-SEC-A092BF
Entity Class
STATUTE / FEDERAL-CODE-SECTION
Domain Signature
oakmorel.com
Spec Version
Root-LD v1.0
Source
PRIMARY-SOURCE
Content Hash
2bdc9eaf59a44c9b...
Source Verified
✓ TRUE
Semantic Edges
PENDING — corpus passes queued
The statutory text of 26 U.S.C. § 307 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. § 306 26 U.S.C. § 311 →
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. § 307
Status
● ACTIVE
Chapter
1 — NORMAL TAXES AND SURTAXES
Title
Internal Revenue Code
Jurisdiction
Federal
Federation ID
OM-USC26-SEC-A092BF
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. § 307