
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC1012]

 
                     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. 1012. Basis of property--cost

    The basis of property shall be the cost of such property, except as 
otherwise provided in 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). The cost of 
real property shall not include any amount in respect of real property 
taxes which are treated under section 164(d) as imposed on the taxpayer.

(Aug. 16, 1954, ch. 736, 68A Stat. 296.)

                  Section Referred to in Other Sections

    This section is referred to in sections 1011, 1033, 1043, 1044, 
1045, 1278, 1361, 1397B of this title.
