Rev. & Tax. Code, § 18039 · Chapter 13. Gain or Loss on Disposition of Property
Rev. & Tax. Code, § 18039
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Section 1052 of the Internal Revenue Code, relating to basis established by prior revenue acts, is modified as follows:
(a) Section 1052(c) of the Internal Revenue Code does not apply.
(b) If the property was acquired, after February 28, 1913, in a transaction to which the Personal Income Tax Law of 1954 applied, and the basis thereof, for purposes of the Personal Income Tax Law of 1954, was prescribed by Section 17747, 17751, 17755, 17756, 17757, 17758, or 17788 of that law, then for purposes of this part the basis shall be the same as the basis therein prescribed in the Personal Income Tax Law of 1954.
Notes and commentary — not statutory text
History
Amended by Stats. 2003, Ch. 185, Sec. 21. Effective January 1, 2004.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=18039.
- Text hash
- sha256 1f21191c68fbf12f0f60aded113562e4c2d4e40ed477ee239b6f051f7b0f02b4
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.