26 USC § 1021 - Sale of annuities

---
identifier: "/us/usc/t26/s1021"
source: "usc"
legal_status: "official_prima_facie"
title: "26 USC § 1021 - Sale of annuities"
title_number: 26
title_name: "INTERNAL REVENUE CODE"
section_number: "1021"
section_name: "Sale of annuities"
chapter_number: 1
chapter_name: "NORMAL TAXES AND SURTAXES"
subchapter_number: "O"
subchapter_name: "Gain or Loss on Disposition of Property"
part_number: "II"
part_name: "BASIS RULES OF GENERAL APPLICATION"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Aug. 16, 1954, ch. 736, 68A Stat. 302.)"
---


# § 1021. Sale of annuities

In case of the sale of an annuity contract, the adjusted basis shall in no case be less than zero.

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**Source Credit**: (Aug. 16, 1954, ch. 736, 68A Stat. 302.)