26 U.S.C. § 1053
Section 1053 · Property acquired before March 1, 1913
Amended 2 times on record
Applied in 9 court decisions — leading case 215 F. Supp. 2d 687 - Trigon Insurance v. United States (2002)
Most recently applied in 215 F. Supp. 2d 687 - Trigon Insurance v. United States (August 2002)
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 the case of property acquired before March 1, 1913, if the basis otherwise determined under this subtitle, adjusted (for the period before March 1, 1913) as provided in section 1016, is less than the fair market value of the property as of March 1, 1913, then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation as of March 1, 1913, due regard shall be given to the fair market value of the assets of the corporation as of that date.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Amendments
1958—Pub. L. 85–866 substituted “subtitle” for “part”.
Effective Date of 1958 Amendment
Amendment by Pub. L. 85–866 applicable to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, see section 1(c)(1) of Pub. L. 85–866, set out as a note under section 165 of this title.
Cross References
Basis—
Adjustments to, see section 1016 of this title.
Cost, see section 1012 of this title.
Distributed property other than money in partnerships, see section 732 of this title.
Distributees in certain corporate organization or reorganization, see section 358 of this title.
Exchange not solely in kind, see section 1031 of this title.
Gift or transfer in trust before Jan. 1, 1921, see section 1015 of this title.
Gifts after Dec. 31, 1920, see section 1015 of this title.
Property acquired after Feb. 28, 1913, see section 1052 of this title.
Property acquired from decedent, see section 1014 of this title.
Property included in inventory, see section 1013 of this title.
Property received in corporate liquidations, see section 334 of this title.
Stock and stock right acquired in corporate distributions, see section 307 of this title.
Transfer in trust after Dec. 31, 1920, see section 1015 of this title.
Fair market value of property received as amount realized on gain, see section 1001 of this title.