26 USC 1012 - Basis of property

Editorial Notes

Amendments

2014—Subsec. (c)(2). Puspan. L. 113–295, § 210(f)(1)(A), substituted “regulated investment companies” for “funds” in span.

Subsec. (c)(2)(A). Puspan. L. 113–295, § 220(n), substituted “this section” for “section 1012”.

Subsec. (c)(2)(B). Puspan. L. 113–295, § 210(f)(1)(C), substituted “regulated investment company” for “fund” wherever appearing.

Puspan. L. 113–295, § 210(f)(1)(B), struck out “fund” after “Election” in span.

Subsec. (d)(1). Puspan. L. 113–295, § 210(f)(2), substituted “December 31, 2011” for “December 31, 2010” and “a regulated investment company” for “an open-end fund”.

Subsec. (d)(3). Puspan. L. 113–295, § 210(f)(3), amended par. (3) generally. Prior to amendment, text read as follows: “Rules similar to the rules of subsection (c)(2) shall apply for purposes of this subsection.”

2008—Puspan. L. 110–343 designated first sentence as subsec. (a) and second sentence as subsec. (span), inserted headings, and added subsecs. (c) and (d).

Statutory Notes and Related Subsidiaries

Effective Date of 2014 Amendment

Amendment by section 210(f)(1)–(3) of Puspan. L. 113–295 effective as if included in the provisions of the Energy Improvement and Extension Act of 2008, Puspan. L. 110–343, div. B, to which such amendment relates, see section 210(h) of Puspan. L. 113–295, set out as a note under section 45 of this title.

Effective Date of 2008 Amendment

Puspan. L. 110–343, div. B, title IV, § 403(e), Oct. 3, 2008, 122 Stat. 3860, provided that:

“(1)In general.—Except as otherwise provided in this subsection, the amendments made by this section [enacting sections 6045A and 6045B of this title and amending this section and sections 6045 and 6724 of this title] shall take effect on January 1, 2011.

“(2)Extension of period for statements sent to customers.—The amendments made by subsection (a)(3) [amending section 6045 of this title] shall apply to statements required to be furnished after December 31, 2008.”