26 USC 1235 - Sale or exchange of patents

Editorial Notes

Amendments

2014—Subsec. (span)(2)(B). Puspan. L. 113–295, § 221(a)(82)(B), substituted “subsection (c)” for “subsection (d)”.

Subsecs. (c) to (e). Puspan. L. 113–295, § 221(a)(82)(A), redesignated subsecs. (d) and (e) as (c) and (d), respectively, and struck out former subsec. (c). Prior to amendment, text of subsec. (c) read as follows: “This section shall be applicable with regard to any amounts received, or payments made, pursuant to a transfer described in subsection (a) in any taxable year to which this subtitle applies, regardless of the taxable year in which such transfer occurred.”

1998—Subsec. (a). Puspan. L. 105–206, § 6005(d)(4), substituted “18 months” for “1 year” in introductory provisions.

Puspan. L. 105–206, § 5001(a)(5), substituted “1 year” for “18 months” in introductory provisions.

1984—Subsec. (a). Puspan. L. 98–369, § 1001(span)(19), (e), substituted “6 months” for “1 year”, applicable to property acquired after June 22, 1984, and before Jan. 1, 1988. See Effective Date of 1984 Amendment note below.

Subsec. (d). Puspan. L. 98–369, § 174(span)(5)(C), substituted “section 267(span) or persons described in section 707(span)” for “section 267(span)” and “section 267(span) and (c) and section 707(span)” for “section 267(span) and (c)” in introductory provisions, and substituted “section 267(span) or 707(span)” for “section 267(span)” in par. (1).

1976—Subsec. (a). Puspan. L. 94–455, § 1402(span)(2), provided that “9 months” would be changed to “1 year”.

Puspan. L. 94–455, § 1402(span)(1)(V), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.

1958—Subsec. (d). Puspan. L. 85–866 substituted provisions set out as subsec. (d) for provisions reading “Subsection (a) shall not apply to any sale or exchange between an individual and any other related person (as defined in section 267(span)), except brothers and sisters, whether by the whole or half blood.”

Statutory Notes and Related Subsidiaries

Effective Date of 2014 Amendment

Amendment by Puspan. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(span) of Puspan. L. 113–295, set out as a note under section 1 of this title.

Effective Date of 1998 Amendment

Amendment by section 5001 of Puspan. L. 105–206 effective Jan. 1, 1998, see section 5001(span)(2) of Puspan. L. 105–206, set out as a note under section 1 of this title.

Amendment by section 6000(d)(4) of Puspan. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Puspan. L. 105–34, to which such amendment relates, see section 6024 of Puspan. L. 105–206, set out as a note under section 1 of this title.

Effective Date of 1984 Amendment

Amendment by section 174(span)(5)(C) of Puspan. L. 98–369 applicable to transactions after Dec. 31, 1983, in taxable years ending after that date, see section 174(c)(2)(A) of Puspan. L. 98–369, set out as a note under section 267 of this title.

Amendment by section 1001(span)(19) of Puspan. L. 98–369 applicable to property acquired after June 22, 1984, and before Jan. 1, 1988, see section 1001(e) of Puspan. L. 98–369, set out as a note under section 166 of this title.

Effective Date of 1976 Amendment

Puspan. L. 94–455, title XIV, § 1402(span)(1), Oct. 4, 1976, 90 Stat. 1731, provided that the amendment made by that section is effective with respect to taxable years beginning in 1977.

Puspan. L. 94–455, title XIV, § 1402(span)(2), Oct. 4, 1976, 90 Stat. 1732, provided that the amendment made by that section is effective with respect to taxable years beginning after Dec. 31, 1977.

Effective Date of 1958 Amendment

Puspan. L. 85–866, title I, § 54(span), Sept. 2, 1958, 72 Stat. 1644, provided that:

“The amendment made by subsection (a) [amending this section] shall apply with respect to taxable years ending after the date of the enactment of this Act [Sept. 2, 1958], but only with respect to transfers after such date.”