26 U.S.C. § 1057
Section 1057 · Repealed. Pub. L. 10534, title XI, 1131(c)(2), Aug. 5, 1997, 111 Stat. 980]
Amended 1 time on record
Applied in 110 court decisions — leading case American Equitable Assur. Co. v. Helvering (1933)
Most recently applied in United States v. Martinez (November 2007)
Cases citing this section usually also cite 26 U.S.C. § 1060 · 26 U.S.C. § 1061 · 26 U.S.C. § 1062
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
In lieu of payment of the tax imposed by section 1491, the taxpayer may elect (for purposes of this subtitle), at such time and in such manner as the Secretary may prescribe, to treat a transfer described in section 1491 as a sale or exchange of property for an amount equal in value to the fair market value of the property transferred and to recognize as gain the excess of—
(1) the fair market value of the property so transferred, over
(2) the adjusted basis (for determining gain) of such property in the hands of the transferor.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Prior Provisions
A prior section 1057 was renumbered section 1061 of this title.
Effective Date
Section applicable to transfers of property after Oct. 2, 1975, see section 1015(d) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 1491 of this title.