
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: 26USC1061]

 
                     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. 1061. Cross references

            (1) For nonrecognition of gain in connection with the 
        transfer of obsolete vessels to the Maritime Administration 
        under section 510 of the Merchant Marine Act, 1936, see 
        subsection (e) of that section, as amended August 4, 1939 (46 
        U.S.C. App. 1160).
            (2) For recognition of gain or loss in connection with the 
        construction of new vessels, see section 511 of such Act, as 
        amended (46 U.S.C. App. 1161).
            (3) For nonrecognition of gain in connection with vessels 
        exchanged with the Maritime Administration under section 8 of 
        the Merchant Ship Sales Act of 1946, see subsection (a) \1\ of 
        that section (50 U.S.C. App. 1741).
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    \1\ See References in Text note below.
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(Aug. 16, 1954, ch. 736, 68A Stat. 311, Sec. 1054; renumbered Sec. 1055, 
Pub. L. 86-779, Sec. 8(b), Sept. 14, 1960, 74 Stat. 1003; renumbered 
Sec. 1056, Pub. L. 88-9, Sec. 1(b), Apr. 10, 1963, 77 Stat. 7; 
renumbered Sec. 1057, Pub. L. 94-455, title II, Sec. 212(a)(1), Oct. 4, 
1976, 90 Stat. 1545; renumbered Sec. 1058, Pub. L. 94-455, title X, 
Sec. 1015(c), Oct. 4, 1976, 90 Stat. 1618; renumbered Sec. 1059, Pub. L. 
95-345, Sec. 2(d)(1), Aug. 15, 1978, 92 Stat. 482; renumbered Sec. 1060, 
Pub. L. 98-369, div. A, title I, Sec. 53(a), July 18, 1984, 98 Stat. 
565; renumbered Sec. 1061 and amended, Pub. L. 99-514, title VI, 
Sec. 641(a), title XVIII, Sec. 1899A(27), Oct. 22, 1986, 100 Stat. 2282, 
2960.)

                       References in Text

    Subsection (a) of section 8 of the Merchant Ship Sales Act of 1946, 
referred to in par. (3), which was classified to section 1741(a) of 
Title 50, Appendix, War and National Defense, was repealed by Pub. L. 
101-225, title III, Sec. 307(12), Dec. 12, 1989, 103 Stat. 1925.


                               Amendments

    1986--Pub. L. 99-514, Sec. 641(a), renumbered section 1060 of this 
title as this section.
    Pars. (1), (2). Pub. L. 99-514, Sec. 1899A(27), which directed the 
amendment of pars. (1) and (2) of section 1060 by substituting ``46 
U.S.C. App.'' for ``46 U.S.C.'' was executed to section 1061 to reflect 
the probable intent of Congress in view of the renumbering of section 
1060 as 1061 by section 641(a) of Pub. L. 99-514.
