
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: 26USC1052]

 
                     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. 1052. Basis established by the Revenue Act of 1932 or 1934 
        or by the Internal Revenue Code of 1939
        

(a) Revenue Act of 1932

    If the property was acquired, after February 28, 1913, in any 
taxable year beginning before January 1, 1934, and the basis thereof, 
for purposes of the Revenue Act of 1932 was prescribed by section 
113(a)(6), (7), or (9) of such Act (47 Stat. 199), then for purposes of 
this subtitle the basis shall be the same as the basis therein 
prescribed in the Revenue Act of 1932.

(b) Revenue Act of 1934

    If the property was acquired, after February 28, 1913, in any 
taxable year beginning before January 1, 1936, and the basis thereof, 
for purposes of the Revenue Act of 1934, was prescribed by section 
113(a)(6), (7), or (8) of such Act (48 Stat. 706), then for purposes of 
this subtitle the basis shall be the same as the basis therein 
prescribed in the Revenue Act of 1934.

(c) Internal Revenue Code of 1939

    If the property was acquired, after February 28, 1913, in a 
transaction to which the Internal Revenue Code of 1939 applied, and the 
basis thereof, for purposes of the Internal Revenue Code of 1939, was 
prescribed by section 113(a)(6), (7), (8), (13), (15), (18), (19), or 
(23) of such code, then for purposes of this subtitle the basis shall be 
the same as the basis therein prescribed in the Internal Revenue Code of 
1939.

(Aug. 16, 1954, ch. 736, 68A Stat. 310.)

                       References in Text

    Revenue Act of 1932, referred to in section catchline and subsec. 
(a), is act June 6, 1932, ch. 209, 47 Stat. 169. For complete 
classification of the Act to the Code, see Tables.
    Revenue Act of 1934, referred to in section catchline and subsec. 
(b), is act May 10, 1934, ch. 277, 48 Stat. 680. For complete 
classification of this Act to the Code, see Tables.
    The Internal Revenue Code of 1939, referred to in section catchline 
and subsec. (c), is act Feb. 10, 1939, ch. 2, 53 Stat. 1, as amended. 
Prior to the enactment of the Internal Revenue Code of 1986 [formerly 
I.R.C. 1954], the 1939 Code was classified to former Title 26, Internal 
Revenue Code. For Table comparisons of the 1939 Code to the 1986 Code, 
see table I preceding section 1 of this title.
    Section 113 of the Internal Revenue Code of 1939, referred to in 
subsec. (c), was classified to section 113 of former Title 26, Internal 
Revenue Code. Section 113 was repealed by section 7851(a)(1)(A) of this 
title. For table of comparisons of the 1939 Code to the 1986 Code, see 
Table I preceding section 1 of this title. See, also, section 7851(e) of 
this title for provision that references in the 1986 Code to a provision 
of the 1939 Code, not then applicable, shall be deemed a reference to 
the corresponding provision of the 1986 Code, which is then applicable.

                  Section Referred to in Other Sections

    This section is referred to in sections 307, 1223 of this title.
