26 C.F.R. PART 1--INCOME TAXES


TITLE 26--Internal Revenue

CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY

SUBCHAPTER A--INCOME TAX

PART 1--INCOME TAXES

rule
Table of Contents
       Headings
1.1001-1
Computation of gain or loss.
1.1001-2
Discharge of liabilities.
1.1001-3
Modifications of debt instruments.
1.1001-4
Modifications of certain notional principal contracts.
1.1001-5
European Monetary Union (conversion to the euro).
1.1002-1
Sales or exchanges.
1.1011-1
Adjusted basis.
1.1011-2
Bargain sale to a charitable organization.
1.1012-1
Basis of property.
1.1012-2
Transfers in part a sale and in part a gift.
1.1013-1
Property included in inventory.
1.1014-1
Basis of property acquired from a decedent.
1.1014-2
Property acquired from a decedent.
1.1014-3
Other basis rules.
1.1014-4
Uniformity of basis; adjustment to basis.
1.1014-5
Gain or loss.
1.1014-6
Special rule for adjustments to basis where property is acquired from a decedent prior to his death.
1.1014-7
Example applying rules of 1.1014-4 through 1.1014-6 to case involving multiple interests.
1.1014-8
Bequest, devise, or inheritance of a remainder interest.
1.1014-9
Special rule with respect to DISC stock.
1.1015-1
Basis of property acquired by gift after December 31, 1920.
1.1015-2
Transfer of property in trust after December 31, 1920.
1.1015-3
Gift or transfer in trust before January 1, 1921.
1.1015-4
Transfers in part a gift and in part a sale.
1.1015-5
Increased basis for gift tax paid.
1.1016-1
Adjustments to basis; scope of section.
1.1016-2
Items properly chargeable to capital account.
1.1016-3
Exhaustion, wear and tear, obsolescence, amortization, and depletion for periods since February 28, 1913.
1.1016-3t
Exhaustion, wear and tear, obsolescence, amortization, and depletion for periods since February 28, 1913 (temporary).
1.1016-4
Exhaustion, wear and tear, obsolescence, amortization, and depletion; periods during which income was not subject to tax.
1.1016-5
Miscellaneous adjustments to basis.
1.1016-6
Other applicable rules.
1.1016-10
Substituted basis.
1.1017-1
Basis reductions following a discharge of indebtedness.
1.1017-1t
Basis reductions following a discharge of indebtedness (temporary).
1.1018-1
Adjusted basis; exception to section 270 of the Bankruptcy Act, as amended.
1.1019-1
Property on which lessee has made improvements.
1.1020-1
Election as to amounts allowed in respect of depreciation, etc., before 1952.
1.1021-1
Sale of annuities.
1.1031-0
Table of contents.
1.1031(a)-1
Property held for productive use in trade or business or for investment.
1.1031(a)-2
Additional rules for exchanges of personal property.
1.1031(b)-1
Receipt of other property or money in tax-free exchange.
1.1031(b)-2
Safe harbor for qualified intermediaries.
1.1031(c)-1
Nonrecognition of loss.
1.1031(d)-1
Property acquired upon a tax-free exchange.
1.1031(d)-1t
Coordination of section 1060 with section 1031 (temporary).
1.1031(d)-2
Treatment of assumption of liabilities.
1.1031(e)-1
Exchange of livestock of different sexes.
1.1031(j)-1
Exchanges of multiple properties.
1.1031(k)-1
Treatment of deferred exchanges.
1.1032-1
Disposition by a corporation of its own capital stock.
1.1032-2
Disposition by a corporation of stock of a controlling corporation in certain triangular reorganizations.
1.1032-3
Disposition of stock or stock options in certain transactions not qualifying under any other nonrecognition provision.
1.1033(a)-1
Involuntary conversions; nonrecognition of gain.
1.1033(a)-2
Involuntary conversion into similiar property, into money or into dissimilar property.
1.1033(a)-3
Involuntary conversion of principal residence.
1.1033(b)-1
Basis of property acquired as a result of an involuntary conversion.
1.1033(c)-1
Disposition of excess property within irrigation project deemed to be involuntary conversion.
1.1033(d)-1
Destruction or disposition of livestock because of disease.
1.1033(e)-1
Sale or exchange of livestock solely on account of drought.
1.1033(g)-1
Condemnation of real property held for productive use in trade or business or for investment.
1.1033(h)-1
Effective date.
1.1034-1
Sale or exchange of residence.
1.1035-1
Certain exchanges of insurance policies.
1.1036-1
Stock for stock of the same corporation.
1.1037-1
Certain exchanges of United States obligations.
1.1038-1
Reacquisitions of real property in satisfaction of indebtedness.
1.1038-2
Reacquisition and resale of property used as a principal residence.
1.1038-3
Election to have section 1038 apply for taxable years beginning after December 31, 1957.
1.1039-1
Certain sales of low-income housing projects.
1.1041-1t
Treatment of transfer of property between spouses or incident to divorce (temporary).
1.1041-2
Redemptions of stock.
1.1042-1t
Questions and answers relating to the sales of stock to employee stock ownership plans or certain cooperatives (temporary).
1.1044(a)-1
Time and manner for making election under the Omnibus Budget Reconciliation Act of 1993.
1.1051-1
Basis of property acquired during affiliation.
1.1052-1
Basis of property established by Revenue Act of 1932.
1.1052-2
Basis of property established by Revenue Act of 1934.
1.1052-3
Basis of property established by the Internal Revenue Code of 1939.
1.1053-1
Property acquired before March 1, 1913.
1.1054-1
Certain stock of Federal National Mortgage Association.
1.1055-1
General rule with respect to redeemable ground rents.
1.1055-2
Determination of amount realized on the transfer of the right to hold real property subject to liabilities under a redeemable ground rent.
1.1055-3
Basis of real property held subject to liabilities under a redeemable ground rent.
1.1055-4
Basis of redeemable ground rent reserved or created in connection with transfers of real property before April 11, 1963.
1.1059(e)-1
Non-pro rata redemptions.
1.1059a-1
Limitation on taxpayer's basis or inventory cost in property imported from related persons.
1.1060-1
Special allocation rules for certain asset acquisitions.
1.1060-1t
Special allocation rules for certain asset acquisitions (temporary).
1.1071-1
Gain from sale or exchange to effectuate policies of Federal Communications Commission.
1.1071-2
Nature and effect of election.
1.1071-3
Reduction of basis of property pursuant to election under section 1071.
1.1071-4
Manner of election.
1.1081-1
Terms used.
1.1081-2
Purpose and scope of exception.
1.1081-3
Exchanges of stock or securities solely for stock or securities.
1.1081-4
Exchanges of property for property by corporations.
1.1081-5
Distribution solely of stock or securities.
1.1081-6
Transfers within system group.
1.1081-7
Sale of stock or securities received upon exchange by members of system group.
1.1081-8
Exchanges in which money or other nonexempt property is received.
1.1081-9
Requirements with respect to order of Securities and Exchange Commission.
1.1081-10
Nonapplication of other provisions of the Internal Revenue Code of 1954.
1.1081-11t
Records to be kept and information to be filed with returns (temporary).
1.1082-1
Basis for determining gain or loss.
1.1082-2
Basis of property acquired upon exchanges under section 1081 (a) or (e).
1.1082-3
Reduction of basis of property by reason of gain not recognized under section 1081(b).
1.1082-4
Basis of property acquired by corporation under section 1081(a), 1081(b), or 1081(e) as contribution of capital or surplus, or in consideration for its own stock or securities.
1.1082-5
Basis of property acquired by shareholder upon tax-free distribution under section 1081(c) (1) or (2).
1.1082-6
Basis of property acquired under section 1081(d) in transactions between corporations of the same system group.
1.1083-1
Definitions.
1.1091-1
Losses from wash sales of stock or securities.
1.1091-2
Basis of stock or securities acquired in ''wash sales''.
1.1092(b)-1t
Coordination of loss deferral rules and wash sale rules (temporary).
1.1092(b)-2t
Treatment of holding periods and losses with respect to straddle positions (temporary).
1.1092(b)-3t
Mixed straddles; straddle-by-straddle identification under section 1092(b)(2)(A)(i)(I) (temporary).
1.1092(b)-4t
Mixed straddles; mixed straddle account (temporary).
1.1092(b)-5t
Definitions (temporary).
1.1092(c)-1
Qualified covered calls.
1.1092(c)-2
Equity options with flexible terms.
1.1092(c)-3
Qualifying over-the-counter options.
1.1092(c)-4
Definitions.
1.1092(d)-1
Definitions and special rules.
1.1092(d)-2
Personal property.
1.1201-1
Alternative tax.
1.1202-0
Table of contents.
1.1202-1
Deduction for capital gains.
1.1202-2
Qualified small business stock; effect of redemptions.
1.1211-1
Limitation on capital losses.
1.1212-1
Capital loss carryovers and carrybacks.
1.1221-1
Meaning of terms.
1.1221-2
Hedging transactions.
1.1221-2t
Hedging transactions (temporary).
1.1222-1
Other terms relating to capital gains and losses.
1.1223-1
Determination of period for which capital assets are held.
1.1223-3
Rules relating to the holding periods of partnership interests.
1.1231-1
Gains and losses from the sale or exchange of certain property used in the trade or business.
1.1231-2
Livestock held for draft, breeding, dairy, or sporting purposes.
1.1232-1
Bonds and other evidences of indebtedness; scope of section.
1.1232-2
Retirement.
1.1232-3
Gain upon sale or exchange of obligations issued at a discount after December 31, 1954.
1.1232-3a
Inclusion as interest of original issue discount on certain obligations issued after May 27, 1969.
1.1232-4
Obligations with excess coupons detached.
1.1233-1
Gains and losses from short sales.
1.1233-2
Hedging transactions.
1.1234-1
Options to buy or sell.
1.1234-2
Special rule for grantors of straddles applicable to certain options granted on or before September 1, 1976.
1.1234-3
Special rules for the treatment of grantors of certain options granted after September 1, 1976.
1.1234-4
Hedging transactions.
1.1235-1
Sale or exchange of patents.
1.1235-2
Definition of terms.
1.1236-1
Dealers in securities.
1.1237-1
Real property subdivided for sale.
1.1238-1
Amortization in excess of depreciation.
1.1239-1
Gain from sale or exchange of depreciable property between certain related taxpayers after October 4, 1976.
1.1239-2
Gain from sale or exchange of depreciable property between certain related taxpayers on or before October 4, 1976.
1.1240-1
Capital gains treatment of certain termination payments.
1.1241-1
Cancellation of lease or distributor's agreement.
1.1242-1
Losses on small business investment company stock.
1.1243-1
Loss of small business investment company.
1.1244(a)-1
Loss on small business stock treated as ordinary loss.
1.1244(b)-1
Annual limitation.
1.1244(c)-1
Section 1244 stock defined.
1.1244(c)-2
Small business corporation defined.
1.1244(d)-1
Contributions of property having basis in excess of value.
1.1244(d)-2
Increases in basis of section 1244 stock.
1.1244(d)-3
Stock dividend, recapitalizations, changes in name, etc.
1.1244(d)-4
Net operating loss deduction.
1.1244(e)-1
Records to be kept.
1.1245-1
General rule for treatment of gain from dispositions of certain depreciable property.
1.1245-2
Definition of recomputed basis.
1.1245-3
Definition of section 1245 property.
1.1245-4
Exceptions and limitations.
1.1245-5
Adjustments to basis.
1.1245-6
Relation of section 1245 to other sections.
1.1247-1
Election by foreign investment companies to distribute income currently.
1.1247-2
Computation and distribution of taxable income.
1.1247-3
Treatment of capital gains.
1.1247-4
Election by foreign investment company with respect to foreign tax credit.
1.1247-5
Information and recordkeeping requirements.
1.1248-1
Treatment of gain from certain sales or exchanges of stock in certain foreign corporations.
1.1248-2
Earnings and profits attributable to a block of stock in simple cases.
1.1248-3
Earnings and profits attributable to stock in complex cases.
1.1248-4
Limitation on tax applicable to individuals.
1.1248-5
Stock ownership requirements for less developed country corporations.
1.1248-6
Sale or exchange of stock in certain domestic corporations.
1.1248-7
Taxpayer to establish earnings and profits and foreign taxes.
1.1249-1
Gain from certain sales or exchanges of patents, etc., to foreign corporations.
1.1250-1
Gain from dispositions of certain depreciable realty.
1.1250-2
Additional depreciation defined.
1.1250-3
Exceptions and limitations.
1.1250-4
Holding period.
1.1250-5
Property with two or more elements.
1.1251-1
General rule for treatment of gain from disposition of property used in farming where farm losses offset nonfarm income.
1.1251-2
Excess deductions account.
1.1251-3
Definitions relating to section 1251.
1.1251-4
Exceptions and limitations.
1.1252-1
General rule for treatment of gain from disposition of farm land.
1.1252-2
Special rules.
1.1254-0
Table of contents for section 1254 recapture rules.
1.1254-1
Treatment of gain from disposition of natural resource recapture property.
1.1254-2
Exceptions and limitations.
1.1254-3
Section 1254 costs immediately after certain acquisitions.
1.1254-4
Special rules for S corporations and their shareholders.
1.1254-5
Special rules for partnerships and their partners.
1.1254-6
Effective date of regulations.
1.1256(e)-1
Identification of hedging transactions.
1.1258-1
Netting rule for certain conversion transactions.
1.1271-0
Original issue discount; effective date; table of contents.
1.1271-1
Special rules applicable to amounts received on retirement, sale, or exchange of debt instruments.
1.1272-1
Current inclusion of OID in income.
1.1272-2
Treatment of debt instruments purchased at a premium.
1.1272-3
Election by a holder to treat all interest on a debt instrument as OID.
1.1273-1
Definition of OID.
1.1273-2
Determination of issue price and issue date.
1.1274-1
Debt instruments to which section 1274 applies.
1.1274-2
Issue price of debt instruments to which section 1274 applies.
1.1274-3
Potentially abusive situations defined.
1.1274-4
Test rate.
1.1274-5
Assumptions.
1.1274a-1
Special rules for certain transactions where stated principal amount does not exceed $2,800,000.
1.1275-1
Definitions.
1.1275-2
Special rules relating to debt instruments.
1.1275-3
OID information reporting requirements.
1.1275-4
Contingent payment debt instruments.
1.1275-5
Variable rate debt instruments.
1.1275-6
Integration of qualifying debt instruments.
1.1275-7
Inflation-indexed debt instruments.
1.1286-1
Tax treatment of certain stripped bonds and stripped coupons.
1.1286-2
Stripped inflation-indexed debt instruments.
1.1287-1
Denial of capital gains treatment for gains on registration-required obligations not in registered form.
1.1291-0
Treatment of shareholders of certain passive foreign investment companies; table of contents.
1.1291-1
Taxation of U.S. persons that are shareholders of PFICs that are not pedigreed QEFs.
1.1291-9
Deemed dividend election.
1.1291-9t
Deemed dividend election (temporary).
1.1291-10
Deemed sale election.
1.1293-0
Table of contents.
1.1293-1
Current taxation of income from qualified electing funds.
1.1294-0
Table of contents.
1.1294-1t
Election to extend the time for payment of tax on undistributed earnings of a qualified electing fund (temporary).
1.1295-0
Table of contents.
1.1295-1
Qualified electing funds.
1.1295-3
Retroactive elections.
1.1296-1
Mark to market election for marketable stock.
1.1296-2
Definition of marketable stock.
1.1297-0
Table of contents.
1.1297-3
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a section 1297(e) PFIC.--[Reserved]
1.1297-0t
Table of contents (temporary).
1.1297-3t
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a section 1297(e) PFIC (temporary).
1.1297-3
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a section 1297(e) PFIC.
1.1297-3t
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a section 1297(e) PFIC (temporary).
1.1298-0
Table of contents.
1.1298-3
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a former PFIC.
1.1298-0t
Table of contents (temporary).
1.1298-3t
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a former PFIC (temporary).
1.1298-3
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a former PFIC.
1.1298-3t
Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a former PFIC (temporary).
1.1301-1
Averaging of farm income.
1.1311(a)-1
Introduction.
1.1311(a)-2
Purpose and scope of section 1311.
1.1311(b)-1
Maintenance of an inconsistent position.
1.1311(b)-2
Correction not barred at time of erroneous action.
1.1311(b)-3
Existence of relationship in case of adjustment by way of deficiency assessment.
1.1312-1
Double inclusion of an item of gross income.
1.1312-2
Double allowance of a deduction or credit.
1.1312-3
Double exclusion of an item of gross income.
1.1312-4
Double disallowance of a deduction or credit.
1.1312-5
Correlative deductions and inclusions for trusts or estates and legatees, beneficiaries, or heirs.
1.1312-6
Correlative deductions and credits for certain related corporations.
1.1312-7
Basis of property after erroneous treatment of a prior transaction.
1.1312-8
Law applicable in determination of error.
1.1313(a)-1
Decision by Tax Court or other court as a determination.
1.1313(a)-2
Closing agreement as a determination.
1.1313(a)-3
Final disposition of claim for refund as a determination.
1.1313(a)-4
Agreement pursuant to section 1313(a)(4) as a determination.
1.1313(c)-1
Related taxpayer.
1.1314(a)-1
Ascertainment of amount of adjustment in year of error.
1.1314(a)-2
Adjustment to other barred taxable years.
1.1314(b)-1
Method of adjustment.
1.1314(c)-1
Adjustment unaffected by other items.
1.1321-1
Involuntary liquidation of lifo inventories.
1.1321-2
Liquidation and replacement of lifo inventories by acquiring corporations.
1.1331-1
Recoveries in respect of war losses.
1.1332-1
Inclusion in gross income of war loss recoveries.
1.1333-1
Tax adjustment measured by prior benefits.
1.1334-1
Restoration of value of investments.
1.1335-1
Elective method; time and manner of making election and effect thereof.
1.1336-1
Basis of recovered property.
1.1337-1
Determination of tax benefits from allowable deductions.
1.1341-1
Restoration of amounts received or accrued under claim of right.
1.1342-1
Computation of tax where taxpayer recovers substantial amount held by another under claim of right; effective date.
1.1346-1
Recovery of unconstitutional taxes.
1.1347-1
Tax on certain amounts received from the United States.
1.1348-1
Fifty-percent maximum tax on earned income.
1.1348-2
Computation of the fifty-percent maximum tax on earned income.
1.1348-3
Definitions.
1.1361-0
Table of contents.
1.1361-1
S corporation defined.
1.1361-2
Definitions relating to S corporation subsidiaries.
1.1361-3
QSub election.
1.1361-4
Effect of QSub election.
1.1361-5
Termination of QSub election.
1.1361-6
Effective date.
1.1362-0
Table of contents.
1.1362-1
Election to be an S corporation.
1.1362-2
Termination of election.
1.1362-3
Treatment of S termination year.
1.1362-4
Inadvertent terminations.
1.1362-5
Election after termination.
1.1362-6
Elections and consents.
1.1362-7
Effective dates.
1.1362-8
Dividends received from affiliated subsidiaries.
1.1363-1
Effect of election on corporation.
1.1363-2
Recapture of LIFO benefits.
1.1366-0
Table of contents.
1.1366-1
Shareholder's share of items of an S corporation.
1.1366-2
Limitations on deduction of passthrough items of an S corporation to its shareholders.
1.1366-3
Treatment of family groups.
1.1366-4
Special rules limiting the passthrough of certain items of an S corporation to its shareholders.
1.1366-5
Effective date.
1.1367-0
Table of contents.
1.1367-1
Adjustments to basis of shareholder's stock in an S corporation.
1.1367-2
Adjustments to basis of indebtedness to shareholder.
1.1367-3
Effective date and transition rule.
1.1368-0
Table of contents.
1.1368-1
Distributions by S corporations.
1.1368-1t
Distributions by S corporations (temporary).
1.1368-2
Accumulated adjustments account (AAA).
1.1368-3
Examples.
1.1368-4
Effective date and transition rule.
1.1374-0
Table of contents.
1.1374-1
General rules and definitions.
1.1374-2
Net recognized built-in gain.
1.1374-3
Net unrealized built-in gain.
1.1374-4
Recognized built-in gain or loss.
1.1374-5
Loss carryforwards.
1.1374-6
Credits and credit carryforwards.
1.1374-7
Inventory.
1.1374-8
Section 1374(d)(8) transactions.
1.1374-9
Anti-stuffing rule.
1.1374-10
Effective date and additional rules.
1.1375-1
Tax imposed when passive investment income of corporation having subchapter C earnings and profits exceed 25 percent of gross receipts.
1.1377-0
Table of contents.
1.1377-1
Pro rata share.
1.1377-1t
Pro rata share (temporary).
1.1377-2
Post-termination transition period.
1.1377-3
Effective dates.
1.1378-1
Taxable year of S corporation.
1.1374-1a
Tax imposed on certain capital gains.
1.1381-1
Organizations to which part applies.
1.1381-2
Tax on certain farmers' cooperatives.
1.1382-1
Taxable income of cooperatives; gross income.
1.1382-2
Taxable income of cooperatives; treatment of patronage dividends.
1.1382-3
Taxable income of cooperatives; special deductions for exempt farmers' cooperatives.
1.1382-4
Taxable income of cooperatives; payment period for each taxable year.
1.1382-5
Taxable income of cooperatives; products marketed under pooling arrangements.
1.1382-6
Taxable income of cooperatives; treatment of earnings received after patronage occurred.
1.1382-7
Special rules applicable to cooperative associations exempt from tax before January 1, 1952.
1.1383-1
Computation of tax where cooperative redeems nonqualified written notices of allocation.
1.1385-1
Amounts includible in patron's gross income.
1.1388-1
Definitions and special rules.
1.1394-0
Table of contents.
1.1394-1
Enterprise zone facility bonds.
1.1396-1
Qualified zone employees.
1.1397e-1
Qualified zone academy bonds.
1.1398-1
Treatment of passive activity losses and passive activity credits in individuals' title 11 cases.
1.1398-2
Treatment of section 465 losses in individuals' title 11 cases.
1.1398-3
Treatment of section 121 exclusion in individuals' title 11 cases.
1.1400l(b)-1t
Additional first year depreciation deduction for qualified New York Liberty Zone property (temporary).
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