Title 26 — Internal Revenue Code
Part III · Chapter 1 — Normal Taxes and Surtaxes
§ 1223. Holding period of property
Statutory text
For purposes of this subtitle—
In determining the period for which the taxpayer has held property received in an exchange, there shall be included the period for which he held the property exchanged if, under this chapter, the property has, for the purpose of determining gain or loss from a sale or exchange, the same basis in whole or in part in his hands as the property exchanged, and, in the case of such exchanges the property exchanged at the time of such exchange was a capital asset as defined in section 1221 or property described in section 1231. For purposes of this paragraph—
an involuntary conversion described in section 1033 shall be considered an exchange of the property converted for the property acquired, and
a distribution to which section 355 (or so much of section 356 as relates to section 355) applies shall be treated as an exchange.
In determining the period for which the taxpayer has held property however acquired there shall be included the period for which such property was held by any other person, if under this chapter such property has, for the purpose of determining gain or loss from a sale or exchange, the same basis in whole or in part in his hands as it would have in the hands of such other person.
In determining the period for which the taxpayer has held stock or securities the acquisition of which (or the contract or option to acquire which) resulted in the nondeductibility (under section 1091 relating to wash sales) of the loss from the sale or other disposition of substantially identical stock or securities, there shall be included the period for which he held the stock or securities the loss from the sale or other disposition of which was not deductible.
In determining the period for which the taxpayer has held stock or rights to acquire stock received on a distribution, if the basis of such stock or rights is determined under section 307, there shall (under regulations prescribed by the Secretary) be included the period for which he held the stock in the distributing corporation before the receipt of such stock or rights upon such distribution.
In determining the period for which the taxpayer has held stock or securities acquired from a corporation by the exercise of rights to acquire such stock or securities, there shall be included only the period beginning with the date on which the right to acquire was exercised.
[(6)
Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(80)(C), , 128 Stat. 4049.]
In determining the period for which the taxpayer has held a commodity acquired in satisfaction of a commodity futures contract (other than a commodity futures contract to which section 1256 applies) there shall be included the period for which he held the commodity futures contract if such commodity futures contract was a capital asset in his hands.
[(8)
Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(80)(C), , 128 Stat. 4049.]
In the case of a person acquiring property from a decedent or to whom property passed from a decedent (within the meaning of section 1014(b)), if—
the basis of such property in the hands of such person is determined under section 1014, and
such property is sold or otherwise disposed of by such person within 1 year after the decedent’s death,
then such person shall be considered to have held such property for more than 1 year.
If—
property is acquired by any person in a transfer to which section 1040 applies,
such property is sold or otherwise disposed of by such person within 1 year after the decedent’s death, and
such sale or disposition is to a person who is a qualified heir (as defined in section 2032A(e)(1)) with respect to the decedent,
then the person making such sale or other disposition shall be considered to have held such property for more than 1 year.
In determining the period for which the taxpayer has held qualified replacement property (within the meaning of section 1042(b)) the acquisition of which resulted under section 1042 in the nonrecognition of any part of the gain realized on the sale of qualified securities (within the meaning of section 1042(b)), there shall be included the period for which such qualified securities had been held by the taxpayer.
In determining the period for which the taxpayer has held property the acquisition of which resulted under section 1043 in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property had been held as of the date of such sale.
Except for purposes of subsections (a)(2) and (c)(2)(A) of section 1202, in determining the period for which the taxpayer has held property the acquisition of which resulted under section 1045 or 1397B in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property has been held as of the date of such sale.
If the security to which a securities futures contract (as defined in section 1234B) relates (other than a contract to which section 1256 applies) is acquired in satisfaction of such contract, in determining the period for which the taxpayer has held such security, there shall be included the period for which the taxpayer held such contract if such contract was a capital asset in the hands of the taxpayer.
Cross reference.—
For special holding period provision relating to certain partnership distributions, see section 735(b).
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.
Aug. 16, 1954, ch. 736, 68A Stat. 323 · 68A Stat. 323
Enacted · 26 U.S.C. § 1223
Aug. 16, 1954, ch. 736, 68A Stat. 323
Source evidence
Code source credit
Aug. 16, 1954, ch. 736, 68A Stat. 323Revenue Act of 1962
Pub. L. 87–834 § 14(b)(3) · 76 Stat. 960
Added · 26 U.S.C. § 1223(10); 26 U.S.C. § 1223(11)
Pub. L. 87–834 added par. (10)
Redesignated · 26 U.S.C. § 1223(10); 26 U.S.C. § 1223(11)
Pub. L. 87–834 redesignated former par. (10) as (11)
Source evidence
Code amendment note
Pars. (10), (11). Pub. L. 87–834 added par. (10) and redesignated former par. (10) as (11).Enacted provision · exact public law section
(3) Holding period of property.— Section 1223 (relating to 26 USC 1223. holding period of property) is amended by redesignating paragraph (10) as paragraph (11) and inserting after paragraph (9) the following paragraph: “(10) In determining the period for which the taxpayer has held trust certificates of a trust to which subsection (d) of section 1246 applies, or the period for which the taxpayer has held stock in a corporation to which subsection (d) of section 1246 applies, there shall be included the period for which the trust or corporation (as the case may be) held the stock of foreign investment companies.”Excise, Estate, and Gift Tax Adjustment Act of 1970
Pub. L. 91–614 title I § 101(g) · 84 Stat. 1836
Added · 26 U.S.C. § 1223(11); 26 U.S.C. § 1223(12)
Pub. L. 91–614 added par. (11)
Redesignated · 26 U.S.C. § 1223(11); 26 U.S.C. § 1223(12)
Pub. L. 91–614 redesignated former par. (11) as (12)
Source evidence
Code amendment note
Pars. (11), (12). Pub. L. 91–614 added par. (11) and redesignated former par. (11) as (12).Enacted provision · exact public law section
(g) Holding Period of Property.— Section 1223 (relating to holding period of property) is amended by redesignating paragraph (11) as paragraph (12) and by inserting after paragraph (10) the following new paragraph: “(11) In the case of a person acquiring property from a 68A Stat. 296. decedent or to whom property passed from a decedent (within the meaning of section 1014(b)), if— “(A) the basis of such property in the hands of such person is determined under section 1014, and “(B) such property is sold or otherwise disposed of by such person within 6 months after the decedent’s death, then such person shall be considered to have held such property for more than 6 months.”Pub. L. 94–455 § 1906(b)(13)(A) · 90 Stat. 1520
Struck · 26 U.S.C. § 1223(5)
Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”
Source evidence
Code amendment note
Par. (5). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.Enacted provision · exact public law section
(A) The Internal Revenue Code of 1954, as amended by this Act, is amended by striking out “Secretary or his delegate” each place it appears and inserting in lieu thereof “Secretary”.Pub. L. 94–455 § 1402(b)(2) · 90 Stat. 1520
Changed · 26 U.S.C. § 1223(11)
Pub. L. 94–455, § 1402(b)(2), provided that “9 months” would be changed to “1 year”
Source evidence
Code amendment note
Par. (11). Pub. L. 94–455, § 1402(b)(2), provided that “9 months” would be changed to “1 year”.Enacted provision · exact public law section
(2) Taxable years beginning after 1977.— Effective with respect to taxable years beginning after December 31, 1977, each provision referred to in paragraph (1) is amended by striking out Ante, p. 1731. “9 months” each place it appears and inserting in lieu thereof “1 year”.Pub. L. 94–455 § 1402(b)(1)(Q) · 90 Stat. 1520
Changed · 26 U.S.C. § 1223(11)
Pub. L. 94–455, § 1402(b)(1)(Q), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977
Target inherited from the preceding amendment note.
Source evidence
Code amendment note
Pub. L. 94–455, § 1402(b)(1)(Q), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.Enacted provision · exact public law section
(Q) Paragraph (11) of section 1223 (relating to holding period of property).Pub. L. 95–600 title VII § 702(c)(5) · 92 Stat. 2763
Repealed · 26 U.S.C. § 1223(11)(A)
Pub. L. 95–600 inserted reference to determination of basis of property under section 1023. See Repeals note below
Source evidence
Code amendment note
Par. (11)(A). Pub. L. 95–600 inserted reference to determination of basis of property under section 1023. See Repeals note below.Enacted provision · exact public law section
(5) Automatic long-term status for gains and losses on carryover basis property.— Subparagraph (A) of section 1223(11) is amended by inserting “or 1023” after “section 1014”. 26 USC 1223, 1023, 1014.Pub. L. 96–223 title IV § 401(a) · 94 Stat. 229
Repealed · 26 U.S.C. § 1223(11)(A)
Pub. L. 96–223 repealed the amendment made by Pub. L. 95–600. See 1978 Amendment note below
Source evidence
Code amendment note
Par. (11)(A). Pub. L. 96–223 repealed the amendment made by Pub. L. 95–600. See 1978 Amendment note below.Enacted provision · exact public law section
(a) In General.— Subsections (a), (d), and (e) of section 2005 of the 26 USC 306 and note, 691, 1001, 1014, 1016, 1023, 1024, 1223, 1246, 6039A, 6698A. Tax Reform Act of 1976 (relating to carryover basis), and subsection (a), paragraphs (2) through (9) of subsection (c), and paragraphs (1) and (3) of subsection (r) of section 702 of the Revenue Act of 1978, and the amendments made by those subsections or paragraphs are hereby repealed.Pub. L. 97–448 § 105(c)(4) · 96 Stat. 2365
Inserted · 26 U.S.C. § 1223(8)
Pub. L. 97–448, § 105(c)(4), inserted “(other than a commodity futures contract to which section 1256 applies)” after “acquired in satisfaction of a commodity futures contract”
Source evidence
Code amendment note
Par. (8). Pub. L. 97–448, § 105(c)(4), inserted “(other than a commodity futures contract to which section 1256 applies)” after “acquired in satisfaction of a commodity futures contract”.Enacted provision · exact public law section
(4) Holding period.— Paragraph (8) of section 1223 (relating 26 USC 1223. to holding period of property) is amended by inserting “(other than a commodity futures contract to which section 1256 applies)” after “commodity futures contract” the first place it appears.Pub. L. 97–448 § 104(b)(3)(C) · 96 Stat. 2365
Added · 26 U.S.C. § 1223(12); 26 U.S.C. § 1223(13)
Pub. L. 97–448, § 104(b)(3)(C), added par. (12)
Redesignated · 26 U.S.C. § 1223(12); 26 U.S.C. § 1223(13)
Pub. L. 97–448, § 104(b)(3)(C), redesignated former par. (12) as (13)
Source evidence
Code amendment note
Pars. (12), (13). Pub. L. 97–448, § 104(b)(3)(C), added par. (12) and redesignated former par. (12) as (13).Enacted provision · exact public law section
(C) 26 USC 1223. Section 1223 (defining holding period of property) is amended by redesignating paragraph (12) as paragraph (13) and by inserting after paragraph (11) the following new paragraph: If— “(A) property is acquired by any person in a transfer to which section 1040 applies, “(B) such property is sold or otherwise disposed of by such person within 1 year after the decedent’s death, and “(C) such sale or disposition is to a person who is a qualified heir (as defined in section 2032A(e)(1)) with respect to the decedent, then the person making such sale or other disposition shall be considered to have held such property for more than 1 year.”Tax Reform Act of 1984
Pub. L. 98–369 § 1001(b)(14) · 98 Stat. 494
Substituted · 26 U.S.C. § 1223(11); 26 U.S.C. § 1223(12)
Pub. L. 98–369, § 1001(b)(14), (e), substituted “6 months” for “1 year”, applicable to property acquired after June 22, 1984, and before Jan. 1, 1988. See Effective Date of 1984 Amendment note below
Source evidence
Code amendment note
Pars. (11), (12). Pub. L. 98–369, § 1001(b)(14), (e), substituted “6 months” for “1 year”, applicable to property acquired after June 22, 1984, and before Jan. 1, 1988. See Effective Date of 1984 Amendment note below.Enacted provision · exact public law section
(14) Paragraphs (11) and (12) of section 1223 (relating to 26 USC 1223. holding period of property).Deficit Reduction Act of 1984
Pub. L. 98–369 § 541(b)(1) · 98 Stat. 494
Redesignated · 26 U.S.C. § 1223(13)
Pub. L. 98–369, § 541(b)(1), added par. (13). Former par. (13) redesignated (14)
Source evidence
Code amendment note
Par. (13). Pub. L. 98–369, § 541(b)(1), added par. (13). Former par. (13) redesignated (14).Deficit Reduction Act of 1984
Pub. L. 98–369 § 541(b)(1) · 98 Stat. 494
Redesignated · 26 U.S.C. § 1223(14)
Pub. L. 98–369, § 541(b)(1), redesignated former par. (13) as (14)
Source evidence
Code amendment note
Par. (14). Pub. L. 98–369, § 541(b)(1), redesignated former par. (13) as (14).Tax Reform Act of 1984
Pub. L. 98–369 § 54(c) · 98 Stat. 494
Amended · 26 U.S.C. § 1223(14)
Pub. L. 98–369, § 54(c), designated existing cross reference as subpar. (A)
Added · 26 U.S.C. § 1223(14)
Pub. L. 98–369, § 54(c), added subpar. (B)
Target inherited from the preceding amendment note.
Source evidence
Code amendment note
Pub. L. 98–369, § 54(c), designated existing cross reference as subpar. (A) and added subpar. (B).Enacted provision · exact public law section
(c) Cross Reference.— Paragraph (13) of section 1223 (relating to Post, p. 890. holding period of property) is amended to read as follows: “(13) Cross references.— “(A) For special holding period provision relating to certain partnership distributions, see section 735(b). “(B) For special holding period provision relating to distributions of appreciated property to corporations, see section 301(e).” Supra.Technical and Miscellaneous Revenue Act of 1988
Pub. L. 100–647 title I § 1006(e)(17) · 102 Stat. 3342
Amended · 26 U.S.C. § 1223(14)
Pub. L. 100–647 amended par. (14) generally
Substituted · 26 U.S.C. § 1223(14)
Pub. L. 100–647 substituting “reference” for “references” in heading
Struck · 26 U.S.C. § 1223(14)
Pub. L. 100–647 striking out “(A)” before “For special holding”
Struck · 26 U.S.C. § 1223(14)
Pub. L. 100–647 striking out subpar. (B) which related to distributions of appreciated property to corporations
Source evidence
Code amendment note
Par. (14). Pub. L. 100–647 amended par. (14) generally, substituting “reference” for “references” in heading, striking out “(A)” before “For special holding”, and striking out subpar. (B) which related to distributions of appreciated property to corporations.Enacted provision · exact public law section
(17) Paragraph (14) of section 1223 of the 1986 Code is amended to read as follows: “(14) Cross reference.— “For special holding period provision relating to certain partnership distributions, see section 735(b).”.Ethics Reform Act of 1989
Pub. L. 101–194 title V § 502(b)(1) · 103 Stat. 1716
Added · 26 U.S.C. § 1223(14); 26 U.S.C. § 1223(15)
Pub. L. 101–194 added par. (14)
Redesignated · 26 U.S.C. § 1223(14); 26 U.S.C. § 1223(15)
Pub. L. 101–194 redesignated former par. (14) as (15)
Source evidence
Code amendment note
Pars. (14), (15). Pub. L. 101–194 added par. (14) and redesignated former par. (14) as (15).Pub. L. 105–34 § 312(d)(9) · 111 Stat. 788
Inserted · 26 U.S.C. § 1223(7)
Pub. L. 105–34, § 312(d)(9), inserted “(as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997)” after “section 1034”
Source evidence
Code amendment note
Par. (7). Pub. L. 105–34, § 312(d)(9), inserted “(as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997)” after “section 1034”.Enacted provision · exact public law section
(9) Paragraph (7) of section 1223 is amended by inserting “(as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997)” after “1034”.Pub. L. 105–34 § 313(b)(2) · 111 Stat. 788
Added · 26 U.S.C. § 1223(15); 26 U.S.C. § 1223(16)
Pub. L. 105–34, § 313(b)(2), added par. (15)
Redesignated · 26 U.S.C. § 1223(15); 26 U.S.C. § 1223(16)
Pub. L. 105–34, § 313(b)(2), redesignated former par. (15) as (16)
Source evidence
Code amendment note
Pars. (15), (16). Pub. L. 105–34, § 313(b)(2), added par. (15) and redesignated former par. (15) as (16).Enacted provision · exact public law section
(2) Section 1223 is amended by redesignating paragraph (15) as paragraph (16) and by inserting after paragraph (14) the following new paragraph: “(15) In determining the period for which the taxpayer has held property the acquisition of which resulted under section 1045 in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property has been held as of the date of such sale.”.Internal Revenue Service Restructuring and Reform Act of 1998
Pub. L. 105–206 § 6005(d)(4) · 112 Stat. 685
Substituted · 26 U.S.C. § 1223(11); 26 U.S.C. § 1223(12)
Pub. L. 105–206, § 6005(d)(4), substituted “18 months” for “1 year” in subpar. (B) and concluding provisions
Source evidence
Code amendment note
Pars. (11), (12). Pub. L. 105–206, § 6005(d)(4), substituted “18 months” for “1 year” in subpar. (B) and concluding provisions.Enacted provision · exact public law section
(4) Paragraphs (11) and (12) of section 1223, and section 1235(a), of the 1986 Code are each amended by striking “1 year” each place it appears and inserting “18 months”.Internal Revenue Service Restructuring and Reform Act of 1998
Pub. L. 105–206 § 5001(a)(5) · 112 Stat. 685
Substituted · 26 U.S.C. § 1223(11); 26 U.S.C. § 1223(12)
Pub. L. 105–206, § 5001(a)(5), substituted “1 year” for “18 months” in subpar. (B) and concluding provisions
Target inherited from the preceding amendment note.
Source evidence
Code amendment note
Pub. L. 105–206, § 5001(a)(5), substituted “1 year” for “18 months” in subpar. (B) and concluding provisions.Enacted provision · exact public law section
(5) Paragraphs (11) and (12) of section 1223, and section 1235(a), are each amended by striking “18 months” each place it appears and inserting “1 year”.Consolidated Appropriations Act, 2001
Pub. L. 106–554 § 1(a)(7)(tI)(s116)(b)(2) · 114 Stat. 2763
Amended · 26 U.S.C. § 1223(15)
Pub. L. 106–554, § 1(a)(7) [title I, § 116(b)(2)], amended par. (15) generally. Prior to amendment, par. (15) read as follows: “In determining the period for which the taxpayer has held property the acquisition of which resulted under section 1045 in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property has been held as of the date of such sale.”
Source evidence
Code amendment note
Par. (15). Pub. L. 106–554, § 1(a)(7) [title I, § 116(b)(2)], amended par. (15) generally. Prior to amendment, par. (15) read as follows: “In determining the period for which the taxpayer has held property the acquisition of which resulted under section 1045 in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property has been held as of the date of such sale.”Enacted provision · exact public law section
(7) H.R. 5662, as introduced on December 14, 2000.Consolidated Appropriations Act, 2001
Pub. L. 106–554 § 1(a)(7)(tIV)(s401)(h)(1) · 114 Stat. 2763
Added · 26 U.S.C. § 1223(16); 26 U.S.C. § 1223(17)
Pub. L. 106–554, § 1(a)(7) [title IV, § 401(h)(1)], added par. (16)
Redesignated · 26 U.S.C. § 1223(16); 26 U.S.C. § 1223(17)
Pub. L. 106–554, § 1(a)(7) [title IV, § 401(h)(1)], redesignated former par. (16) as (17)
Source evidence
Code amendment note
Pars. (16), (17). Pub. L. 106–554, § 1(a)(7) [title IV, § 401(h)(1)], added par. (16) and redesignated former par. (16) as (17).Enacted provision · exact public law section
(7) H.R. 5662, as introduced on December 14, 2000.Pub. L. 108–357 title IV § 413(c)(21) · 118 Stat. 1418
Redesignated · 26 U.S.C. § 1223(10)(17)
Pub. L. 108–357 redesignated pars. (11) to (17) as (10) to (16), respectively
Struck · 26 U.S.C. § 1223(10)(17)
Pub. L. 108–357 struck out former par. (10) which read as follows: “In determining the period for which the taxpayer has held trust certificates of a trust to which subsection (d) of section 1246 applies, or the period for which the taxpayer has held stock in a corporation to which subsection (d) of section 1246 applies, there shall be included the period for which the trust or corporation (as the case may be) held the stock of foreign investment companies.”
Source evidence
Code amendment note
Pars. (10) to (17). Pub. L. 108–357 redesignated pars. (11) to (17) as (10) to (16), respectively, and struck out former par. (10) which read as follows: “In determining the period for which the taxpayer has held trust certificates of a trust to which subsection (d) of section 1246 applies, or the period for which the taxpayer has held stock in a corporation to which subsection (d) of section 1246 applies, there shall be included the period for which the trust or corporation (as the case may be) held the stock of foreign investment companies.”Enacted provision · exact public law section
(21) Section 1223 is amended by striking paragraph (10) and by redesignating the following paragraphs accordingly.Tax Technical Corrections Act of 2005
Pub. L. 109–135 title IV § 402(a)(2) · 119 Stat. 2577
Redesignated · 26 U.S.C. § 1223(3)(16)
Pub. L. 109–135 redesignated pars. (4) to (16) as (3) to (15), respectively
Struck · 26 U.S.C. § 1223(3)(16)
Pub. L. 109–135 struck out former par. (3) which read as follows: “In determining the period for which the taxpayer has held stock or securities received upon a distribution where no gain was recognized to the distributee under section 1081(c) (or under section 112(g) of the Revenue Act of 1928, 45 Stat. 818, or the Revenue Act of 1932, 48 Stat. 705), there shall be included the period for which he held the stock or securities in the distributing corporation before the receipt of the stock or securities on such distribution.”
Source evidence
Code amendment note
Pars. (3) to (16). Pub. L. 109–135 redesignated pars. (4) to (16) as (3) to (15), respectively, and struck out former par. (3) which read as follows: “In determining the period for which the taxpayer has held stock or securities received upon a distribution where no gain was recognized to the distributee under section 1081(c) (or under section 112(g) of the Revenue Act of 1928, 45 Stat. 818, or the Revenue Act of 1932, 48 Stat. 705), there shall be included the period for which he held the stock or securities in the distributing corporation before the receipt of the stock or securities on such distribution.”Enacted provision · exact public law section
(2) Section 1223 is amended by striking paragraph (3) and by redesignating paragraphs (4) through (16) as paragraphs (3) through (15), respectively.Tax Technical Corrections Act of 2014
Pub. L. 113–295 § 221(a)(80)(A) · 128 Stat. 4010
Struck · 26 U.S.C. § 1223(1)
Pub. L. 113–295, § 221(a)(80)(A), struck out “after March 1, 1954,” after “such exchanges” in introductory provisions
Source evidence
Code amendment note
Par. (1). Pub. L. 113–295, § 221(a)(80)(A), struck out “after March 1, 1954,” after “such exchanges” in introductory provisions.Enacted provision · exact public law section
(A) Paragraph (1) of section 1223 is amended by striking “after March 1, 1954,”.Effective date note
Amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.Tax Technical Corrections Act of 2014
Pub. L. 113–295 § 221(a)(80)(B) · 128 Stat. 4010
Struck · 26 U.S.C. § 1223(4)
Pub. L. 113–295, § 221(a)(80)(B), struck out “(or under so much of section 1052(c) as refers to section 113(a)(23) of the Internal Revenue Code of 1939)” after “section 307”. Amendment was executed to reflect the probable intent of Congress notwithstanding a second set of quotation marks around the text directed to be stricken
Source evidence
Code amendment note
Par. (4). Pub. L. 113–295, § 221(a)(80)(B), struck out “(or under so much of section 1052(c) as refers to section 113(a)(23) of the Internal Revenue Code of 1939)” after “section 307”. Amendment was executed to reflect the probable intent of Congress notwithstanding a second set of quotation marks around the text directed to be stricken.Enacted provision · exact public law section
(B) Paragraph (4) of section 1223 is amended by striking “ ‘(or under so much of section 1052(c) as refers to section 113(a)(23) of the Internal Revenue Code of 1939)’ ”.Effective date note
Amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.Tax Technical Corrections Act of 2014
Pub. L. 113–295 § 221(a)(80)(C) · 128 Stat. 4010
Struck · 26 U.S.C. § 1223(6)
Pub. L. 113–295, § 221(a)(80)(C), struck out par. (6) which read as follows: “In determining the period for which the taxpayer has held a residence, the acquisition of which resulted under section 1034 (as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997) in the nonrecognition of any part of the gain realized on the sale or exchange of another residence, there shall be included the period for which such other residence had been held as of the date of such sale or exchange. For purposes of this paragraph, the term ‘sale or exchange’ includes an involuntary conversion occurring after December 31, 1950, and before January 1, 1954.”
Source evidence
Code amendment note
Par. (6). Pub. L. 113–295, § 221(a)(80)(C), struck out par. (6) which read as follows: “In determining the period for which the taxpayer has held a residence, the acquisition of which resulted under section 1034 (as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997) in the nonrecognition of any part of the gain realized on the sale or exchange of another residence, there shall be included the period for which such other residence had been held as of the date of such sale or exchange. For purposes of this paragraph, the term ‘sale or exchange’ includes an involuntary conversion occurring after December 31, 1950, and before January 1, 1954.”Enacted provision · exact public law section
(C) Paragraphs (6) and (8) of section 1223 are repealed.Effective date note
Amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.Tax Technical Corrections Act of 2014
Pub. L. 113–295 § 221(a)(80)(C) · 128 Stat. 4010
Struck · 26 U.S.C. § 1223(8)
Pub. L. 113–295, § 221(a)(80)(C), struck out par. (8) which read as follows: “Any reference in this section to a provision of this title shall, where applicable, be deemed a reference to the corresponding provision of the Internal Revenue Code of 1939, or prior internal revenue laws.”
Source evidence
Code amendment note
Par. (8). Pub. L. 113–295, § 221(a)(80)(C), struck out par. (8) which read as follows: “Any reference in this section to a provision of this title shall, where applicable, be deemed a reference to the corresponding provision of the Internal Revenue Code of 1939, or prior internal revenue laws.”Enacted provision · exact public law section
(C) Paragraphs (6) and (8) of section 1223 are repealed.Effective date note
Amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.Energy and Water Development and Related Agencies Appropriations Act, 2018
Pub. L. 115–141 div. U title IV § 401(d)(4)(B)(vi) · 132 Stat. 348
Substituted · 26 U.S.C. § 1223(13)
Pub. L. 115–141 substituted “subsections (a)(2) and (c)(2)(A) of section 1202” for “sections 1202(a)(2), 1202(c)(2)(A), 1400B(b), and 1400F(b)”
Source evidence
Code amendment note
Par. (13). Pub. L. 115–141 substituted “subsections (a)(2) and (c)(2)(A) of section 1202” for “sections 1202(a)(2), 1202(c)(2)(A), 1400B(b), and 1400F(b)”.Enacted provision · exact public law section
Sec. 401. The Nuclear Regulatory Commission shall comply with the July 5, 2011, version of Chapter VI of its Internal Commission Procedures when responding to Congressional requests for information.
36 of 41 references resolved to an enrolled provision · 5 partial
Editorial Notes
Amendments1962–2018 · 16 rounds
2018
Par. (13). Pub. L. 115–141 substituted “subsections (a)(2) and (c)(2)(A) of section 1202” for “sections 1202(a)(2), 1202(c)(2)(A), 1400B(b), and 1400F(b)”.
2014
Par. (1). Pub. L. 113–295, § 221(a)(80)(A), struck out “after ,” after “such exchanges” in introductory provisions.
Par. (4). Pub. L. 113–295, § 221(a)(80)(B), struck out “(or under so much of section 1052(c) as refers to section 113(a)(23) of the Internal Revenue Code of 1939)” after “section 307”. Amendment was executed to reflect the probable intent of Congress notwithstanding a second set of quotation marks around the text directed to be stricken.
Par. (6). Pub. L. 113–295, § 221(a)(80)(C), struck out par. (6) which read as follows: “In determining the period for which the taxpayer has held a residence, the acquisition of which resulted under section 1034 (as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997) in the nonrecognition of any part of the gain realized on the sale or exchange of another residence, there shall be included the period for which such other residence had been held as of the date of such sale or exchange. For purposes of this paragraph, the term ‘sale or exchange’ includes an involuntary conversion occurring after , and before .”
Par. (8). Pub. L. 113–295, § 221(a)(80)(C), struck out par. (8) which read as follows: “Any reference in this section to a provision of this title shall, where applicable, be deemed a reference to the corresponding provision of the Internal Revenue Code of 1939, or prior internal revenue laws.”
2005
Pars. (3) to (16). Pub. L. 109–135 redesignated pars. (4) to (16) as (3) to (15), respectively, and struck out former par. (3) which read as follows: “In determining the period for which the taxpayer has held stock or securities received upon a distribution where no gain was recognized to the distributee under section 1081(c) (or under section 112(g) of the Revenue Act of 1928, 45 Stat. 818, or the Revenue Act of 1932, 48 Stat. 705), there shall be included the period for which he held the stock or securities in the distributing corporation before the receipt of the stock or securities on such distribution.”
2004
Pars. (10) to (17). Pub. L. 108–357 redesignated pars. (11) to (17) as (10) to (16), respectively, and struck out former par. (10) which read as follows: “In determining the period for which the taxpayer has held trust certificates of a trust to which subsection (d) of section 1246 applies, or the period for which the taxpayer has held stock in a corporation to which subsection (d) of section 1246 applies, there shall be included the period for which the trust or corporation (as the case may be) held the stock of foreign investment companies.”
2000
Par. (15). Pub. L. 106–554, § 1(a)(7) [title I, § 116(b)(2)], amended par. (15) generally. Prior to amendment, par. (15) read as follows: “In determining the period for which the taxpayer has held property the acquisition of which resulted under section 1045 in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property has been held as of the date of such sale.”
Pars. (16), (17). Pub. L. 106–554, § 1(a)(7) [title IV, § 401(h)(1)], added par. (16) and redesignated former par. (16) as (17).
1998
Pars. (11), (12). Pub. L. 105–206, § 6005(d)(4), substituted “18 months” for “1 year” in subpar. (B) and concluding provisions.
Pub. L. 105–206, § 5001(a)(5), substituted “1 year” for “18 months” in subpar. (B) and concluding provisions.
1997
Par. (7). Pub. L. 105–34, § 312(d)(9), inserted “(as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997)” after “section 1034”.
Pars. (15), (16). Pub. L. 105–34, § 313(b)(2), added par. (15) and redesignated former par. (15) as (16).
1989
Pars. (14), (15). Pub. L. 101–194 added par. (14) and redesignated former par. (14) as (15).
1988
Par. (14). Pub. L. 100–647 amended par. (14) generally, substituting “reference” for “references” in heading, striking out “(A)” before “For special holding”, and striking out subpar. (B) which related to distributions of appreciated property to corporations.
1984
Pars. (11), (12). Pub. L. 98–369, § 1001(b)(14), (e), substituted “6 months” for “1 year”, applicable to property acquired after , and before . See Effective Date of 1984 Amendment note below.
Par. (13). Pub. L. 98–369, § 541(b)(1), added par. (13). Former par. (13) redesignated (14).
Par. (14). Pub. L. 98–369, § 541(b)(1), redesignated former par. (13) as (14).
Pub. L. 98–369, § 54(c), designated existing cross reference as subpar. (A) and added subpar. (B).
1983
Par. (8). Pub. L. 97–448, § 105(c)(4), inserted “(other than a commodity futures contract to which section 1256 applies)” after “acquired in satisfaction of a commodity futures contract”.
Pars. (12), (13). Pub. L. 97–448, § 104(b)(3)(C), added par. (12) and redesignated former par. (12) as (13).
1980
Par. (11)(A). Pub. L. 96–223 repealed the amendment made by Pub. L. 95–600. See 1978 Amendment note below.
1978
Par. (11)(A). Pub. L. 95–600 inserted reference to determination of basis of property under section 1023. See Repeals note below.
1976
Par. (5). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Par. (11). Pub. L. 94–455, § 1402(b)(2), provided that “9 months” would be changed to “1 year”.
Pub. L. 94–455, § 1402(b)(1)(Q), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.
1970
Pars. (11), (12). Pub. L. 91–614 added par. (11) and redesignated former par. (11) as (12).
1962
Pars. (10), (11). Pub. L. 87–834 added par. (10) and redesignated former par. (10) as (11).
Statutory Notes and Related Subsidiaries
Effective Date of 2014 Amendment
Amendment by Pub. L. 113–295 effective , subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.
Effective Date of 2005 Amendment
Amendment by Pub. L. 109–135 effective as if included in the provisions of the Energy Policy Act of 2005, Pub. L. 109–58, to which it relates, but not applicable with respect to any transaction ordered in compliance with the Public Utility Holding Company Act of 1935 (15 U.S.C. 79 et seq.) before its repeal, see section 402(m) of Pub. L. 109–135, set out as an Effective and Termination Dates of 2005 Amendments note under section 23 of this title.
Effective Date of 2004 Amendment
Amendment by Pub. L. 108–357 applicable to taxable years of foreign corporations beginning after , and to taxable years of United States shareholders with or within which such taxable years of foreign corporations end, see section 413(d)(1) of Pub. L. 108–357, set out as an Effective and Termination Dates of 2004 Amendments note under section 1 of this title.
Effective Date of 2000 Amendment
Amendment by section 1(a)(7) [title I, § 116(b)(2)] of Pub. L. 106–554 applicable to qualified empowerment zone assets acquired after , see section 1(a)(7) [title I, § 116(c)] of Pub. L. 106–554, set out as a note under section 1016 of this title.
Amendment by section 1(a)(7) [title IV, § 401(h)(1)] of Pub. L. 106–554 effective , see section 1(a)(7) [title IV, § 401(j)] of Pub. L. 106–554, set out as a note under section 1032 of this title.
Effective Date of 1998 Amendment
Amendment by section 5001(a)(5) of Pub. L. 105–206 effective , see section 5001(b)(2) of Pub. L. 105–206, set out as a note under section 1 of this title.
Amendment by section 6005(d)(4) of Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
Effective Date of 1997 Amendment
Amendment by section 312(d)(9) of Pub. L. 105–34 applicable to sales and exchanges after , with certain exceptions, see section 312(d) of Pub. L. 105–34, set out as a note under section 121 of this title.
Amendment by section 313(b)(2) of Pub. L. 105–34 applicable to sales after , see section 313(c) of Pub. L. 105–34, set out as a note under section 1016 of this title.
Effective Date of 1989 Amendment
Amendment by Pub. L. 101–194 applicable to sales after , see section 502(c) of Pub. L. 101–194, set out as a note under section 1016 of this title.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Effective Date of 1984 Amendment
Amendment by section 541(b)(1) of Pub. L. 98–369 applicable to sales of securities in taxable years beginning after , see section 541(c) of Pub. L. 98–369, set out as an Effective Date note under section 1042 of this title.
Amendment by section 1001(b)(14) of Pub. L. 98–369 applicable to property acquired after , and before , see section 1001(e) of Pub. L. 98–369, set out as a note under section 166 of this title.
Effective Date of 1983 Amendment
Amendment by Pub. L. 97–448 effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, Pub. L. 97–34, to which such amendment relates, see section 109 of Pub. L. 97–448, set out as a note under section 1 of this title.
Effective Date of 1980 Amendment and Revival of Prior Law
Amendment by Pub. L. 96–223 (repealing section 702(c)(5) of Pub. L. 95–600 and the amendments made thereby, which had amended this section) applicable in respect of decedents dying after , and except for certain elections, this title to be applied and administered as if those repealed provisions had not been enacted, see section 401(b), (e) of Pub. L. 96–223, set out as a note under section 1023 of this title.
Effective Date of 1978 Amendment
Amendment by Pub. L. 95–600 to take effect as if included in the amendments and additions made by, and the appropriate provisions of Pub. L. 94–455, see section 702(c)(10) of Pub. L. 95–600, set out as a note under section 1014 of this title.
Effective Date of 1976 Amendment
Pub. L. 94–455, title XIV, § 1402(b)(1), , 90 Stat. 1731, provided that the amendment made by that section is effective with respect to taxable years beginning in 1977.
Pub. L. 94–455, title XIV, § 1402(b)(2), , 90 Stat. 1732, provided that the amendment made by that section is effective with respect to taxable years beginning after .
Effective Date of 1970 Amendment
Amendment by Pub. L. 91–614 applicable with respect to decedents dying after , see section 101(j) of Pub. L. 91–614, set out as a note under section 2032 of this title.
Effective Date of 1962 Amendment
Amendment by Pub. L. 87–834 applicable with respect to taxable years beginning after , see section 14(c) of Pub. L. 87–834, set out as a note under section 312 of this title.
Repeals
Pub. L. 95–600, § 702(c)(5), cited as a credit to this section, and the amendments made thereby, were repealed by Pub. L. 96–223, title IV, § 401(a), 94 Stat. 299, resulting in the text of this section reading as it read prior to enactment of section 702(c)(5). See Effective Date of 1980 Amendment and Revival of Prior Law note set out above.
Savings Provision
Amendment by Pub. L. 115–141 not applicable to certain obligations issued, DC Zone assets acquired, or principal residences acquired before , see section 401(d)(4)(C) of Pub. L. 115–141, set out as a note under former section 1400 of this title.
For provisions that nothing in amendment by Pub. L. 115–141 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to , for purposes of determining liability for tax for periods ending after , see section 401(e) of Pub. L. 115–141, set out as a note under section 23 of this title.
Credits
1954–2018 · 17 acts
- 1954Aug. 16, 1954, ch. 736, 68A Stat. 323
- 1962Pub. L. 87–834, § 14(b)(3), , 76 Stat. 1041
- 1970Pub. L. 91–614, title I, § 101(g), , 84 Stat. 1838
- 1976Pub. L. 94–455, title XIV, § 1402(b)(1)(Q), (2), title XIX, § 1906(b) (13)(A), , 90 Stat. 1732, 1834
- 1978Pub. L. 95–600, title VII, § 702(c)(5), , 92 Stat. 2927
- 1980Pub. L. 96–223, title IV, § 401(a), , 94 Stat. 299
- 1983Pub. L. 97–448, title I, §§ 104(b)(3)(C), 105(c)(4), , 96 Stat. 2382, 2385
- 1984Pub. L. 98–369, div. A, title I, § 54(c), title V, § 541(b)(1), title X, § 1001(b)(14), (e), , 98 Stat. 569, 890, 1011, 1012
- 1988Pub. L. 100–647, title I, § 1006(e)(17), , 102 Stat. 3403
- 1989Pub. L. 101–194, title V, § 502(b)(1), , 103 Stat. 1754
- 1997Pub. L. 105–34, title III, §§ 312(d)(9), 313(b)(2), , 111 Stat. 840, 842
- 1998Pub. L. 105–206, title V, § 5001(a)(5), title VI, § 6005(d)(4), , 112 Stat. 788, 805
- 2000Pub. L. 106–554, § 1(a)(7) [title I, § 116(b)(2), title IV, § 401(h)(1)], , 114 Stat. 2763, 2763A–603, 2763A–650
- 2004Pub. L. 108–357, title IV, § 413(c)(21), , 118 Stat. 1509
- 2005Pub. L. 109–135, title IV, § 402(a)(2), , 119 Stat. 2610
- 2014Pub. L. 113–295, div. A, title II, § 221(a)(80), , 128 Stat. 4049
- 2018Pub. L. 115–141, div. U, title IV, § 401(d)(4)(B)(vi), , 132 Stat. 1209.
Show as published
(Aug. 16, 1954, ch. 736, 68A Stat. 323; Pub. L. 87–834, § 14(b)(3), , 76 Stat. 1041; Pub. L. 91–614, title I, § 101(g), , 84 Stat. 1838; Pub. L. 94–455, title XIV, § 1402(b)(1)(Q), (2), title XIX, § 1906(b) (13)(A), , 90 Stat. 1732, 1834; Pub. L. 95–600, title VII, § 702(c)(5), , 92 Stat. 2927; Pub. L. 96–223, title IV, § 401(a), , 94 Stat. 299; Pub. L. 97–448, title I, §§ 104(b)(3)(C), 105(c)(4), , 96 Stat. 2382, 2385; Pub. L. 98–369, div. A, title I, § 54(c), title V, § 541(b)(1), title X, § 1001(b)(14), (e), , 98 Stat. 569, 890, 1011, 1012; Pub. L. 100–647, title I, § 1006(e)(17), , 102 Stat. 3403; Pub. L. 101–194, title V, § 502(b)(1), , 103 Stat. 1754; Pub. L. 105–34, title III, §§ 312(d)(9), 313(b)(2), , 111 Stat. 840, 842; Pub. L. 105–206, title V, § 5001(a)(5), title VI, § 6005(d)(4), , 112 Stat. 788, 805; Pub. L. 106–554, § 1(a)(7) [title I, § 116(b)(2), title IV, § 401(h)(1)], , 114 Stat. 2763, 2763A–603, 2763A–650; Pub. L. 108–357, title IV, § 413(c)(21), , 118 Stat. 1509; Pub. L. 109–135, title IV, § 402(a)(2), , 119 Stat. 2610; Pub. L. 113–295, div. A, title II, § 221(a)(80), , 128 Stat. 4049; Pub. L. 115–141, div. U, title IV, § 401(d)(4)(B)(vi), , 132 Stat. 1209.)