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Home Page > Executive Branch > Code of Federal Regulations > Electronic Code of Federal Regulations
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e-CFR Data is current as of November 3, 2008
TITLE 26--Internal Revenue
CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
SUBCHAPTER A--INCOME TAX
PART 1--INCOME TAXES
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Computation of gain or loss. |
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Discharge of liabilities. |
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Modifications of debt instruments. |
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Modifications of certain notional principal contracts. |
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European Monetary Union (conversion to the euro). |
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Bargain sale to a charitable organization. |
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Transfers in part a sale and in part a gift. |
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Property included in inventory. |
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Basis of property acquired from a decedent. |
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Property acquired from a decedent. |
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Uniformity of basis; adjustment to basis. |
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Special rule for adjustments to basis where property is acquired from a decedent prior to his death. |
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Example applying rules of 1.1014-4 through 1.1014-6 to case involving multiple interests. |
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Bequest, devise, or inheritance of a remainder interest. |
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Special rule with respect to DISC stock. |
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Basis of property acquired by gift after December 31, 1920. |
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Transfer of property in trust after December 31, 1920. |
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Gift or transfer in trust before January 1, 1921. |
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Transfers in part a gift and in part a sale. |
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Increased basis for gift tax paid. |
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Adjustments to basis; scope of section. |
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Items properly chargeable to capital account. |
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Exhaustion, wear and tear, obsolescence, amortization, and depletion for periods since February 28, 1913. |
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Exhaustion, wear and tear, obsolescence, amortization, and depletion; periods during which income was not subject to tax. |
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Miscellaneous adjustments to basis. |
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Basis reductions following a discharge of indebtedness. |
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Property on which lessee has made improvements. |
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Election as to amounts allowed in respect of depreciation, etc., before 1952. |
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Property held for productive use in trade or business or for investment. |
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Additional rules for exchanges of personal property. |
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Receipt of other property or money in tax-free exchange. |
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Safe harbor for qualified intermediaries. |
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Property acquired upon a tax-free exchange. |
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Coordination of section 1060 with section 1031 (temporary). |
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Treatment of assumption of liabilities. |
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Exchange of livestock of different sexes. |
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Exchanges of multiple properties. |
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Treatment of deferred exchanges. |
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Disposition by a corporation of its own capital stock. |
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Disposition by a corporation of stock of a controlling corporation in certain triangular reorganizations. |
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Disposition of stock or stock options in certain transactions not qualifying under any other nonrecognition provision. |
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Involuntary conversions; nonrecognition of gain. |
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Involuntary conversion into similiar property, into money or into dissimilar property. |
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Involuntary conversion of principal residence. |
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Basis of property acquired as a result of an involuntary conversion. |
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Disposition of excess property within irrigation project deemed to be involuntary conversion. |
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Destruction or disposition of livestock because of disease. |
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Sale or exchange of livestock solely on account of drought. |
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Condemnation of real property held for productive use in trade or business or for investment. |
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Sale or exchange of residence. |
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Certain exchanges of insurance policies. |
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Stock for stock of the same corporation. |
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Certain exchanges of United States obligations. |
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Reacquisitions of real property in satisfaction of indebtedness. |
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Reacquisition and resale of property used as a principal residence. |
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Election to have section 1038 apply for taxable years beginning after December 31, 1957. |
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Certain sales of low-income housing projects. |
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Treatment of transfer of property between spouses or incident to divorce (temporary). |
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Questions and answers relating to the sales of stock to employee stock ownership plans or certain cooperatives (temporary). |
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Time and manner for making election under the Omnibus Budget Reconciliation Act of 1993. |
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Application to partnerships. |
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Basis of property acquired during affiliation. |
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Basis of property established by Revenue Act of 1932. |
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Basis of property established by Revenue Act of 1934. |
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Basis of property established by the Internal Revenue Code of 1939. |
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Property acquired before March 1, 1913. |
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Certain stock of Federal National Mortgage Association. |
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General rule with respect to redeemable ground rents. |
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Determination of amount realized on the transfer of the right to hold real property subject to liabilities under a redeemable ground rent. |
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Basis of real property held subject to liabilities under a redeemable ground rent. |
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Basis of redeemable ground rent reserved or created in connection with transfers of real property before April 11, 1963. |
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Non-pro rata redemptions. |
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Limitation on taxpayer's basis or inventory cost in property imported from related persons. |
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Special allocation rules for certain asset acquisitions. |
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Gain from sale or exchange to effectuate policies of Federal Communications Commission. |
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Nature and effect of election. |
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Reduction of basis of property pursuant to election under section 1071. |
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Purpose and scope of exception. |
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Exchanges of stock or securities solely for stock or securities. |
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Exchanges of property for property by corporations. |
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Distribution solely of stock or securities. |
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Transfers within system group. |
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Sale of stock or securities received upon exchange by members of system group. |
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Exchanges in which money or other nonexempt property is received. |
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Requirements with respect to order of Securities and Exchange Commission. |
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Nonapplication of other provisions of the Internal Revenue Code of 1954. |
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Records to be kept and information to be filed with returns. |
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Basis for determining gain or loss. |
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Basis of property acquired upon exchanges under section 1081 (a) or (e). |
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Reduction of basis of property by reason of gain not recognized under section 1081(b). |
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Basis of property acquired by corporation under section 1081(a), 1081(b), or 1081(e) as contribution of capital or surplus, or in consideration for its own stock or securities. |
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Basis of property acquired by shareholder upon tax-free distribution under section 1081(c) (1) or (2). |
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Basis of property acquired under section 1081(d) in transactions between corporations of the same system group. |
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Losses from wash sales of stock or securities. |
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Basis of stock or securities acquired in ''wash sales''. |
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Coordination of loss deferral rules and wash sale rules (temporary). |
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Treatment of holding periods and losses with respect to straddle positions (temporary). |
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Mixed straddles; straddle-by-straddle identification under section 1092(b)(2)(A)(i)(I) (temporary). |
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Mixed straddles; mixed straddle account (temporary). |
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Equity options with flexible terms. |
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Qualifying over-the-counter options. |
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Definitions and special rules. |
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Deduction for capital gains. |
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Qualified small business stock; effect of redemptions. |
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Limitation on capital losses. |
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Capital loss carryovers and carrybacks. |
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Time and manner for electing capital asset treatment for certain self-created musical works (temporary). |
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Other terms relating to capital gains and losses. |
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Determination of period for which capital assets are held. |
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Rules relating to the holding periods of partnership interests. |
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Gains and losses from the sale or exchange of certain property used in the trade or business. |
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Livestock held for draft, breeding, dairy, or sporting purposes. |
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Bonds and other evidences of indebtedness; scope of section. |
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Gain upon sale or exchange of obligations issued at a discount after December 31, 1954. |
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Inclusion as interest of original issue discount on certain obligations issued after May 27, 1969. |
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Obligations with excess coupons detached. |
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Gains and losses from short sales. |
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Special rule for grantors of straddles applicable to certain options granted on or before September 1, 1976. |
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Special rules for the treatment of grantors of certain options granted after September 1, 1976. |
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Sale or exchange of patents. |
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Real property subdivided for sale. |
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Amortization in excess of depreciation. |
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Gain from sale or exchange of depreciable property between certain related taxpayers after October 4, 1976. |
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Gain from sale or exchange of depreciable property between certain related taxpayers on or before October 4, 1976. |
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Capital gains treatment of certain termination payments. |
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Cancellation of lease or distributor's agreement. |
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Losses on small business investment company stock. |
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Loss of small business investment company. |
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Loss on small business stock treated as ordinary loss. |
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Section 1244 stock defined. |
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Small business corporation defined. |
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Contributions of property having basis in excess of value. |
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Increases in basis of section 1244 stock. |
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Stock dividend, recapitalizations, changes in name, etc. |
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Net operating loss deduction. |
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General rule for treatment of gain from dispositions of certain depreciable property. |
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Definition of recomputed basis. |
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Definition of section 1245 property. |
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Exceptions and limitations. |
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Relation of section 1245 to other sections. |
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Election by foreign investment companies to distribute income currently. |
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Computation and distribution of taxable income. |
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Treatment of capital gains. |
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Election by foreign investment company with respect to foreign tax credit. |
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Information and recordkeeping requirements. |
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Treatment of gain from certain sales or exchanges of stock in certain foreign corporations. |
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Earnings and profits attributable to a block of stock in simple cases. |
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Earnings and profits attributable to stock in complex cases. |
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Limitation on tax applicable to individuals. |
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Stock ownership requirements for less developed country corporations. |
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Sale or exchange of stock in certain domestic corporations. |
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Taxpayer to establish earnings and profits and foreign taxes. |
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Earnings and profits attributable to stock following certain non-recognition transactions. |
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Gain from certain sales or exchanges of patents, etc., to foreign corporations. |
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Gain from dispositions of certain depreciable realty. |
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Additional depreciation defined. |
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Exceptions and limitations. |
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Property with two or more elements. |
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General rule for treatment of gain from disposition of property used in farming where farm losses offset nonfarm income. |
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Excess deductions account. |
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Definitions relating to section 1251. |
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Exceptions and limitations. |
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General rule for treatment of gain from disposition of farm land. |
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Table of contents for section 1254 recapture rules. |
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Treatment of gain from disposition of natural resource recapture property. |
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Exceptions and limitations. |
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Section 1254 costs immediately after certain acquisitions. |
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Special rules for S corporations and their shareholders. |
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Special rules for partnerships and their partners. |
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Effective date of regulations. |
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Identification of hedging transactions. |
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Netting rule for certain conversion transactions. |
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Original issue discount; effective date; table of contents. |
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Special rules applicable to amounts received on retirement, sale, or exchange of debt instruments. |
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Current inclusion of OID in income. |
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Treatment of debt instruments purchased at a premium. |
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Election by a holder to treat all interest on a debt instrument as OID. |
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Determination of issue price and issue date. |
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Debt instruments to which section 1274 applies. |
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Issue price of debt instruments to which section 1274 applies. |
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Potentially abusive situations defined. |
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Special rules for certain transactions where stated principal amount does not exceed $2,800,000. |
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Special rules relating to debt instruments. |
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OID information reporting requirements. |
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Contingent payment debt instruments. |
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Variable rate debt instruments. |
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Integration of qualifying debt instruments. |
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Inflation-indexed debt instruments. |
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Tax treatment of certain stripped bonds and stripped coupons. |
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Stripped inflation-indexed debt instruments. |
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Denial of capital gains treatment for gains on registration-required obligations not in registered form. |
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Treatment of shareholders of certain passive foreign investment companies; table of contents. |
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Taxation of U.S. persons that are shareholders of PFICs that are not pedigreed QEFs. |
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Deemed dividend election. |
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Current taxation of income from qualified electing funds. |
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Election to extend the time for payment of tax on undistributed earnings of a qualified electing fund (temporary). |
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Qualified electing funds. |
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Mark to market election for marketable stock. |
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Definition of marketable stock. |
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Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a section 1297(e) PFIC. |
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Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a former PFIC. |
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Averaging of farm income. |
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Averaging of farm and fishing income (temporary). |
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Purpose and scope of section 1311. |
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Maintenance of an inconsistent position. |
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Correction not barred at time of erroneous action. |
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Existence of relationship in case of adjustment by way of deficiency assessment. |
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Double inclusion of an item of gross income. |
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Double allowance of a deduction or credit. |
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Double exclusion of an item of gross income. |
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Double disallowance of a deduction or credit. |
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Correlative deductions and inclusions for trusts or estates and legatees, beneficiaries, or heirs. |
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Correlative deductions and credits for certain related corporations. |
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Basis of property after erroneous treatment of a prior transaction. |
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Law applicable in determination of error. |
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Decision by Tax Court or other court as a determination. |
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Closing agreement as a determination. |
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Final disposition of claim for refund as a determination. |
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Agreement pursuant to section 1313(a)(4) as a determination. |
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Ascertainment of amount of adjustment in year of error. |
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Adjustment to other barred taxable years. |
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Adjustment unaffected by other items. |
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Involuntary liquidation of lifo inventories. |
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Liquidation and replacement of lifo inventories by acquiring corporations. |
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Recoveries in respect of war losses. |
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Inclusion in gross income of war loss recoveries. |
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Tax adjustment measured by prior benefits. |
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Restoration of value of investments. |
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Elective method; time and manner of making election and effect thereof. |
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Basis of recovered property. |
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Determination of tax benefits from allowable deductions. |
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Restoration of amounts received or accrued under claim of right. |
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Computation of tax where taxpayer recovers substantial amount held by another under claim of right; effective date. |
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Recovery of unconstitutional taxes. |
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Tax on certain amounts received from the United States. |
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Fifty-percent maximum tax on earned income. |
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Computation of the fifty-percent maximum tax on earned income. |
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Definitions relating to S corporation subsidiaries. |
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Termination of QSub election. |
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Election to be an S corporation. |
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Treatment of S termination year. |
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Inadvertent terminations and inadvertently invalid elections. |
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Election after termination. |
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Dividends received from affiliated subsidiaries. |
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Effect of election on corporation. |
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Recapture of LIFO benefits. |
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Shareholder's share of items of an S corporation. |
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Limitations on deduction of passthrough items of an S corporation to its shareholders. |
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Treatment of family groups. |
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Special rules limiting the passthrough of certain items of an S corporation to its shareholders. |
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Effective/applicability date. |
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Adjustments to basis of shareholder's stock in an S corporation. |
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Adjustments to basis of indebtedness to shareholder. |
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Effective/Applicability date. |
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Distributions by S corporations. |
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Accumulated adjustments account (AAA). |
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Effective date and transition rule. |
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General rules and definitions. |
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Net recognized built-in gain. |
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Net unrealized built-in gain. |
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Recognized built-in gain or loss. |
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Credits and credit carryforwards. |
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Section 1374(d)(8) transactions. |
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Effective date and additional rules. |
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Tax imposed when passive investment income of corporation having subchapter C earnings and profits exceed 25 percent of gross receipts. |
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Post-termination transition period. |
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Taxable year of S corporation. |
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Tax imposed on certain capital gains. |
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Organizations to which part applies. |
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Tax on certain farmers' cooperatives. |
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Taxable income of cooperatives; gross income. |
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Taxable income of cooperatives; treatment of patronage dividends. |
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Taxable income of cooperatives; special deductions for exempt farmers' cooperatives. |
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Taxable income of cooperatives; payment period for each taxable year. |
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Taxable income of cooperatives; products marketed under pooling arrangements. |
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Taxable income of cooperatives; treatment of earnings received after patronage occurred. |
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Special rules applicable to cooperative associations exempt from tax before January 1, 1952. |
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Computation of tax where cooperative redeems nonqualified written notices of allocation. |
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Amounts includible in patron's gross income. |
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Definitions and special rules. |
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Enterprise zone facility bonds. |
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Qualified zone employees. |
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Qualified zone academy bonds. |
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Qualified zone academy bonds (temporary). |
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Treatment of passive activity losses and passive activity credits in individuals' title 11 cases. |
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Treatment of section 465 losses in individuals' title 11 cases. |
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Treatment of section 121 exclusion in individuals' title 11 cases. |
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Additional first year depreciation deduction for qualified New York Liberty Zone property. |
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