Fabio
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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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type, title, description, jurisdiction, corpus, kind, title_number, title_name, chapter_number, chapter_name, section, citation, status, release_point, release_date, source, source_url, source_identifier, source_file, source_hash, raw_snapshot_hash, text_hash, retrieved_at, confidence, tags
| type | title | description | jurisdiction | corpus | kind | title_number | title_name | chapter_number | chapter_name | section | citation | status | release_point | release_date | source | source_url | source_identifier | source_file | source_hash | raw_snapshot_hash | text_hash | retrieved_at | confidence | tags | ||
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| LegalText | 26 U.S.C. § 1054 | Certain stock of Federal National Mortgage Association | us | united_states_code | code_section | 26 | INTERNAL REVENUE CODE | 1 | NORMAL TAXES AND SURTAXES | 1054 | 26 U.S.C. § 1054 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip | /us/usc/t26/s1054 | data/legal/raw/us/code/title-26/usc26.xml | a6aba0a5163458347257fa9d0d8af22dcd98b8a44a23c37a0d039340cfb597f3 | a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4 | 450a215de1c7ce1be1ea8756073de62e4fac51a037c3ca2cfc34c7ceb1a45262 | 2026-07-04 | official |
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26 U.S.C. § 1054 - Certain stock of Federal National Mortgage Association
Text
In the case of a share of stock issued pursuant to section 303(c) of the Federal National Mortgage Association Charter Act (12 U.S.C., sec. 1718), the basis of such share in the hands of the initial holder shall be an amount equal to the capital contributions evidenced by such share reduced by the amount (if any) required by section 162(d) to be treated (with respect to such share) as ordinary and necessary expenses paid or incurred in carrying on a trade or business.
(Added Pub. L. 86–779, § 8(b), Sept. 14, 1960, 74 Stat. 1003.)
Notes
Editorial Notes
Prior ProvisionsA prior section 1054 was renumbered section 1063 of this title.
Statutory Notes and Related Subsidiaries
Effective DateSection applicable with respect to taxable years beginning after Dec. 31, 1959, see section 8(d) of Pub. L. 86–779, set out as an Effective Date of 1960 Amendment note under section 162 of this title.