§ 1063. Cross references

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. 311, § 1054 · 68A Stat. 311

   Enacted · 26 U.S.C. § 1063

   Aug. 16, 1954, ch. 736, 68A Stat. 311, § 1054

   Source evidence

   Code source credit
   Aug. 16, 1954, ch. 736, 68A Stat. 311, § 1054

2. 1986

   Tax Reform Act of 1986

   Pub. L. 99–514 § 641(a) · 100 Stat. 2085

   Changed · 26 U.S.C. § 1063

   Pub. L. 99–514, § 641(a), renumbered section 1060 of this title as this section

   Source evidence

   Code amendment note
   Pub. L. 99–514, § 641(a), renumbered section 1060 of this title as this section.

   Enacted provision · exact public law section
   (a) In General.— Part IV of subchapter O of chapter 1 (relating to special rules for determining basis) is amended by redesignating section 1060 as section 1061 and by inserting after section 1059 the following new section: “SEC. 1060. SPECIAL ALLOCATION RULES FOR CERTAIN ASSET ACQUISITIONS. “(a) General Rule.— In the case of any applicable asset acquisition, for purposes of determining both— “(2) the transferee’s basis in such assets, and “(2) the gain or loss of the transferor with respect to such acquisition, the consideration received for such assets shall be allocated among such assets acquired in such acquisition in the same manner as amounts are allocated to assets under section 338(b)(5). “(b) Information Required To Be Furnished to Secretary.— Under regulations, the transferor and transferee in an applicable asset acquisition shall, at such times and in such manner as may be provided in such regulations, furnish to the Secretary the following information: “(1) The amount of the consideration received for the assets which is allocated to goodwill or going concern value. “(2) Any modification of the amount described in paragraph (1). “(3) Any other information with respect to other assets transferred in such acquisition as the Secretary may find necessary to carry out the provisions of this section. “(c) Applicable Asset Acquisition.— For purposes of this section, the term ‘applicable asset acquisition’ means any transfer (whether directly or indirectly)— “(1) of assets which constitute a trade or business, and “(2) with respect to which the transferee’s basis in such assets is determined wholly by reference to the consideration paid for such assets. A transfer shall not be treated as failing to be an applicable asset acquisition merely because section 1031 applies to a portion of the assets transferred.”

3. 1986

   Tax Reform Act of 1986

   Pub. L. 99–514 § 1899A(27) · 100 Stat. 2085

   Substituted · 26 U.S.C. § 1063(1); 26 U.S.C. § 1063(2)

   Pub. L. 99–514, § 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

   Source evidence

   Code amendment note
   Pars. (1), (2). Pub. L. 99–514, § 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.

   Enacted provision · exact public law section
   (27) Paragraphs (1) and (2) of section 1060 are each amended by striking out “46 U.S.C.” and inserting in lieu thereof “46 U.S.C. App”.

4. 2006

   Pub. L. 109–304 § 17(e)(5)(A) · 120 Stat. 1485

   Substituted · 26 U.S.C. § 1063(1)

   Pub. L. 109–304, § 17(e)(5)(A), substituted “chapter 573 of title 46, United States Code, see section 57307 of title 46” for “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)”

   Source evidence

   Code amendment note
   Par. (1). Pub. L. 109–304, § 17(e)(5)(A), substituted “chapter 573 of title 46, United States Code, see section 57307 of title 46” for “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)”.

   Enacted provision · exact public law section
   (A) in paragraph (1), strike “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)” and substitute “chapter 573 of title 46, United States Code, see section 57307 of title 46”;

5. 2006

   Pub. L. 109–304 § 17(e)(5)(B) · 120 Stat. 1485

   Substituted · 26 U.S.C. § 1063(2)

   Pub. L. 109–304, § 17(e)(5)(B), substituted “chapter 533 of title 46, United States Code” for “section 511 of such Act, as amended (46 U.S.C. App. 1161)”

   Source evidence

   Code amendment note
   Par. (2). Pub. L. 109–304, § 17(e)(5)(B), substituted “chapter 533 of title 46, United States Code” for “section 511 of such Act, as amended (46 U.S.C. App. 1161)”.

   Enacted provision · exact public law section
   (B) in paragraph (2), strike “section 511 of such Act, as amended (46 U.S.C. App. 1161)” and substitute “chapter 533 of title 46, United States Code”; and

6. 2006

   Pub. L. 109–304 § 17(e)(5)(C) · 120 Stat. 1485

   Struck · 26 U.S.C. § 1063(3)

   Pub. L. 109–304, § 17(e)(5)(C), struck out par. (3), which read as follows: “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) of that section (50 U.S.C. App. 1741).”

   Source evidence

   Code amendment note
   Par. (3). Pub. L. 109–304, § 17(e)(5)(C), struck out par. (3), which read as follows: “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) of that section (50 U.S.C. App. 1741).”

   Enacted provision · exact public law section
   (C) strike paragraph (3).

7. 2017

   Pub. L. 115–97 title I § 13309(a)(1) · 131 Stat. 2054

   Changed · 26 U.S.C. § 1063

   Pub. L. 115–97 renumbered section 1061 of this title as this section

   Source evidence

   Code amendment note
   Pub. L. 115–97 renumbered section 1061 of this title as this section.

   Enacted provision · exact public law section
   (1) by redesignating section 1061 as section 1062, and

8. 2025

   Pub. L. 119–21 title VII § 70437(a) · 139 Stat. 248

   Changed · 26 U.S.C. § 1063

   Pub. L. 119–21 renumbered section 1062 of this title as this section

   Unresolved: Pub. L. 119–21 was not found in the local Statutes at Large index.

   Source evidence

   Code amendment note
   Pub. L. 119–21 renumbered section 1062 of this title as this section.

   Effective date note
   Amendment by Pub. L. 119–21 applicable to sales or exchanges in taxable years beginning after July 4, 2025, see section 70437(c) of Pub. L. 119–21, set out as an Effective Date note under section 1062 of this title.

6 of 8 references resolved to an enrolled provision · 1 partial · 1 unresolved