Internal Revenue Code:Sec. 1013. Basis of property included in inventory

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Contents


Location in Internal Revenue Code


     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle A - Income Taxes
       CHAPTER 1 - NORMAL TAXES AND SURTAXES
        Subchapter O - Gain or Loss on Disposition of Property
         PART II - BASIS RULES OF GENERAL APPLICATION

Statute

    Sec. 1013. Basis of property included in inventory
 
      If the property should have been included in the last inventory,
    the basis shall be the last inventory value thereof.

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 296.)
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