26 USC § 1053 - Property acquired before March 1, 1913

---
identifier: "/us/usc/t26/s1053"
source: "usc"
legal_status: "official_prima_facie"
title: "26 USC § 1053 - Property acquired before March 1, 1913"
title_number: 26
title_name: "INTERNAL REVENUE CODE"
section_number: "1053"
section_name: "Property acquired before March 1, 1913"
chapter_number: 1
chapter_name: "NORMAL TAXES AND SURTAXES"
subchapter_number: "O"
subchapter_name: "Gain or Loss on Disposition of Property"
part_number: "IV"
part_name: "SPECIAL RULES"
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. 311; Pub. L. 85–866, title I, § 47, Sept. 2, 1958, 72 Stat. 1642.)"
---


# § 1053. Property acquired before March 1, 1913

March 1, 1913March 1, 1913March 1, 1913March 1, 1913

In the case of property acquired before , if the basis otherwise determined under this subtitle, adjusted (for the period before ) as provided in section 1016, is less than the fair market value of the property as of , then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation as of , due regard shall be given to the fair market value of the assets of the corporation as of that date.

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**Source Credit**: (Aug. 16, 1954, ch. 736, 68A Stat. 311; Pub. L. 85–866, title I, § 47, Sept. 2, 1958, 72 Stat. 1642.)

## Editorial Notes

### Amendments

1958— substituted “subtitle” for “part”.

## Statutory Notes and Related Subsidiaries

### Effective Date of 1958 Amendment

Amendment by  applicable to taxable years beginning after , and ending after , see , set out as a note under .