26 USC § 1056 - Repealed. Pub. L. 108–357, title VIII, § 886(b)(1)(A), Oct. 22, 2004, 118 Stat. 1641]
---
identifier: "/us/usc/t26/s1056"
source: "usc"
legal_status: "official_prima_facie"
title: "26 USC § 1056 - Repealed. Pub. L. 108–357, title VIII, § 886(b)(1)(A), Oct. 22, 2004, 118 Stat. 1641]"
title_number: 26
title_name: "INTERNAL REVENUE CODE"
section_number: "1056"
section_name: "Repealed. Pub. L. 108–357, title VIII, § 886(b)(1)(A), Oct. 22, 2004, 118 Stat. 1641]"
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]"
status: "repealed"
---
# [§ 1056. Repealed. Pub. L. 108–357, title VIII, § 886(b)(1)(A), Oct. 22, 2004, 118 Stat. 1641]
Section, added , , ; amended , , , related to basis limitation for player contracts transferred in connection with the sale of a franchise.
A prior section 1056 was renumbered .
## Statutory Notes and Related Subsidiaries
### Effective Date of Repeal
Repeal applicable to property acquired after , see , set out as an Effective Date of 2004 Amendment note under .