
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC1021]

 
                     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. 1021. Sale of annuities

    In case of the sale of an annuity contract, the adjusted basis shall 
in no case be less than zero.

(Aug. 16, 1954, ch. 736, 68A Stat. 302.)

                  Section Referred to in Other Sections

    This section is referred to in section 72 of this title.
