Fabio
76b8ec33a7
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>
46 lines
2.0 KiB
Markdown
46 lines
2.0 KiB
Markdown
---
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type: "LegalText"
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title: "26 U.S.C. § 1053"
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description: "Property acquired before March 1, 1913"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 26
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title_name: "INTERNAL REVENUE CODE"
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chapter_number: "1"
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chapter_name: "NORMAL TAXES AND SURTAXES"
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section: "1053"
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citation: "26 U.S.C. § 1053"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
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source_identifier: "/us/usc/t26/s1053"
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source_file: "data/legal/raw/us/code/title-26/usc26.xml"
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source_hash: "7bb91117987632b1cd39a0d0e95342a2eb587456a01bfc78798f01abad697b42"
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raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
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text_hash: "79601fec02dcbaac16cdf20430ee4a23e22a32f98fb76d6dba06f20ef8ed7ba0"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 26 U.S.C. § 1053 - Property acquired before March 1, 1913
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## Text
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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.
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(Aug. 16, 1954, ch. 736, 68A Stat. 311; Pub. L. 85–866, title I, § 47, Sept. 2, 1958, 72 Stat. 1642.)
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## Notes
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Editorial Notes
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Amendments1958—Pub. L. 85–866 substituted “subtitle” for “part”.
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Statutory Notes and Related Subsidiaries
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Effective Date of 1958 AmendmentAmendment 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.
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