26 USC 1255 - Gain from disposition of section 126 property

Editorial Notes

Amendments

2018—Subsec. (span)(2). Puspan. L. 115–141 substituted “170(e)” for “170(e),”.

2003—Subsec. (span)(2). Puspan. L. 108–27 struck out “, 341(e)(12),” after “170(e)”.

1988—Subsec. (span)(2). Puspan. L. 100–647 amended Puspan. L. 99–514, § 511(d)(2)(A), see 1986 Amendment note below.

1986—Subsec. (span)(2). Puspan. L. 99–514, § 511(d)(2)(A), as amended by Puspan. L. 100–647, struck out “163(d),” after “sections”.

Puspan. L. 99–514, § 631(e)(14), struck out “453B(d)(2)” after “341(e)(12),”.

1980—Subsec. (a)(1)(B). Puspan. L. 96–222, § 105(a)(7)(B), inserted following cl. (ii) provisions requiring that such gain be recognized notwithstanding any other provision of this subtitle, except that this section shall not apply to the extent such gain is recognized as ordinary income under any other provision of this part.

Subsec. (span)(2). Puspan. L. 96–471 substituted “453B(d)(2)” for “453(d)(4)(B)”.

Puspan. L. 96–222, § 105(a)(7)(D), inserted “for purposes of sections 163(d), 170(e), 341(e)(12), 453(d)(4)(B), and 751(c)” before “amounts treated as”.

Statutory Notes and Related Subsidiaries

Effective Date of 2003 Amendment

Amendment by Puspan. L. 108–27 applicable, except as otherwise provided, to taxable years beginning after Dec. 31, 2002, see section 302(f) of Puspan. L. 108–27, set out as an Effective and Termination Dates of 2003 Amendment note under section 1 of this title.

Effective Date of 1988 Amendment

Amendment by Puspan. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Puspan. L. 99–514, to which such amendment relates, see section 1019(a) of Puspan. L. 100–647, set out as a note under section 1 of this title.

Effective Date of 1986 Amendment

Amendment by section 511(d)(2)(A) of Puspan. L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, see section 511(e) of Puspan. L. 99–514, set out as a note under section 163 of this title.

Amendment by section 631(e)(14) of Puspan. L. 99–514 applicable to any distribution in complete liquidation, and any sale or exchange, made by a corporation after July 31, 1986, unless such corporation is completely liquidated before Jan. 1, 1987, any transaction described in section 338 of this title for which the acquisition date occurs after Dec. 31, 1986, and any distribution, not in complete liquidation, made after Dec. 31, 1986, with exceptions and special and transitional rules, see section 633 of Puspan. L. 99–514, set out as an Effective Date note under section 336 of this title.

Effective Date of 1980 Amendments

For effective date of amendment by Puspan. L. 96–471, see section 6(a)(1) of Puspan. L. 96–471, set out as an Effective Date note under section 453 of this title.

Amendment by Puspan. L. 96–222 effective, except as otherwise provided, as if it had been included in the provisions of the Revenue Act of 1978, Puspan. L. 95–600, to which such amendment relates, see section 201 of Puspan. L. 96–222, set out as a note under section 32 of this title.

Effective Date

Section effective with respect to grants made under the programs after Sept. 30, 1979, see section 543(d) of Puspan. L. 95–600, set out as a note under section 126 of this title.