# 26 U.S.C. § 1052: Basis established by the Revenue Act of 1932 or 1934 or by the Internal Revenue Code of 1939

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s1052>. Cite pinpoints as 26 U.S.C. § 1052(a)(1).

## § 1052(a) Revenue Act of 1932

If the property was acquired, after February 28, 1913, in any taxable year beginning before January 1, 1934, and the basis thereof, for purposes of the Revenue Act of 1932 was prescribed by section 113(a)(6), (7), or (9) of such Act (47 Stat. 199), then for purposes of this subtitle the basis shall be the same as the basis therein prescribed in the Revenue Act of 1932.

## § 1052(b) Revenue Act of 1934

If the property was acquired, after February 28, 1913, in any taxable year beginning before January 1, 1936, and the basis thereof, for purposes of the Revenue Act of 1934, was prescribed by section 113(a)(6), (7), or (8) of such Act (48 Stat. 706), then for purposes of this subtitle the basis shall be the same as the basis therein prescribed in the Revenue Act of 1934.

## § 1052(c) Internal Revenue Code of 1939

If the property was acquired, after February 28, 1913, in a transaction to which the Internal Revenue Code of 1939 applied, and the basis thereof, for purposes of the Internal Revenue Code of 1939, was prescribed by section 113(a)(6), (7), (8), (13), (15), (18), (19), or (23) of such code, then for purposes of this subtitle the basis shall be the same as the basis therein prescribed in the Internal Revenue Code of 1939.

## Regulations

- [Treas. Reg. § 1.1052-1](/26/reg/1.1052-1.md): Basis of property established by Revenue Act of 1932. (interprets § 1052)
- [Treas. Reg. § 1.1052-2](/26/reg/1.1052-2.md): Basis of property established by Revenue Act of 1934. (interprets § 1052)
- [Treas. Reg. § 1.1052-3](/26/reg/1.1052-3.md): Basis of property established by the Internal Revenue Code of 1939. (interprets § 1052)

## Leading cases

- [United States v. Chicago, Burlington & Quincy R.R., 412 U.S. 401 (1973)](https://www.courtlistener.com/opinion/108806/united-states-v-chicago-burlington-quincy-railroad/)
- [Niagara Mohawk Power Corp. v. United States, 525 F.2d 1380 (Ct. Cl. 1975)](https://www.courtlistener.com/opinion/8616362/niagara-mohawk-power-corp-v-united-states/)
- [Faraco v. Commissioner, 261 F.2d 387 (4th Cir. 1958)](https://www.courtlistener.com/opinion/246634/antoinette-m-faraco-v-commissioner-of-internal-revenue/)

## Connections

Cites: none

Cited by: § 307 Basis of stock and stock rights acquired in distributions

Derived from: 1939 § 113(a)(11), (12); 1939 § 113(a)(16)

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 310