§ 1011. Adjusted basis for determining gain or loss

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1954

   Aug. 16, 1954, ch. 736, 68A Stat. 296 · 68A Stat. 296

   Enacted · 26 U.S.C. § 1011

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

   Source evidence

   Code source credit
   Aug. 16, 1954, ch. 736, 68A Stat. 296

2. 1969

   Tax Reform Act of 1969

   Pub. L. 91–172 title II § 201(f) · 83 Stat. 487

   1. Redesignated · 26 U.S.C. § 1011

      Pub. L. 91–172 redesignated existing provisions as subsec. (a)

   2. Added · 26 U.S.C. § 1011

      Pub. L. 91–172 added subsec. (b)

   Source evidence

   Code amendment note
   Pub. L. 91–172 redesignated existing provisions as subsec. (a) and added subsec. (b).

   Enacted provision · exact public law section
   (f) Bargain Sales to Charitable Organizations.— Section 1011 (relating to adjusted basis for determining gain or loss) is amended— (1) by striking out “The” at the beginning and inserting in lieu thereof: “(a) General Rule.— The”, and (2) by adding at the end thereof the following new subsection: “(b) Bargain Sale to a Charitable Organization.— If a deduction Ante, p. 549. is allowable under section 170 (relating to charitable contributions) by reason of a sale, then the adjusted basis for determining the gain from such sale shall be that portion of the adjusted basis which bears the same ratio to the adjusted basis as the amount realized bears to the fair market value of the property.”

   Effective date note
   Amendment by Pub. L. 91–172 applicable with respect to sales made after Dec. 19, 1969, see section 201(g)(6) of Pub. L. 91–172, set out as a note under section 170 of this title.

2 of 3 references resolved to an enrolled provision · 1 partial