Source: https://irc.bloombergtax.com/public/uscode/doc/irc/section_1223
Timestamp: 2020-01-21 17:47:22
Document Index: 291888565

Matched Legal Cases: ['§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223', '§ 1223']

Internal Revenue Code, § 1223. Holding Period Of Property
I.R.C. § 1223(1) —
In determining the period for which the taxpayer has held property received in an exchange, there shall be included the period for which he held the property exchanged if, under this chapter, the property has, for the purpose of determining gain or loss from a sale or exchange, the same basis in whole or in part in his hands as the property exchanged, and, in the case of such exchanges the property exchanged at the time of such exchange was a capital asset as defined in section 1221 or property described in section 1231. For purposes of this paragraph—
I.R.C. § 1223(1)(A) —
I.R.C. § 1223(1)(B) —
I.R.C. § 1223(2) —
I.R.C. § 1223(3) —
I.R.C. § 1223(4) —
In determining the period for which the taxpayer has held stock or rights to acquire stock received on a distribution, if the basis of such stock or rights is determined under section 307, there shall (under regulations prescribed by the Secretary) be included the period for which he held the stock in the distributing corporation before the receipt of such stock or rights upon such distribution.
I.R.C. § 1223(5) —
I.R.C. § 1223(6) —
[Repealed. Pub. L. 113-295, Div. A, Sec. 221(a)(80)(C).]
I.R.C. § 1223(7) —
I.R.C. § 1223(8) —
I.R.C. § 1223(9) —
In the case of a person acquiring property from a decedent or to whom property passed from a decedent (within the meaning of section 1014(b)), if—
I.R.C. § 1223(9)(A) —
I.R.C. § 1223(9)(B) —
I.R.C. § 1223(10) —
I.R.C. § 1223(10)(A) —
I.R.C. § 1223(10)(B) —
I.R.C. § 1223(10)(C) —
such sale or disposition is to a person who is a qualified heir (as defined in section 2032A(e)(1)) with respect to the decedent, then the person making such sale or other disposition shall be considered to have held such property for more than 1 year.
I.R.C. § 1223(11) —
I.R.C. § 1223(12) —
I.R.C. § 1223(13) —
Except for purposes of subsections (a)(2) and (c)(2)(A) of section 1202, in determining the period for which the taxpayer has held property the acquisition of which resulted under section 1045 or 1397B in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property has been held as of the date of such sale.
I.R.C. § 1223(14) —
I.R.C. § 1223(15) Cross Reference —
(Aug. 16, 1954, ch. 736, 68A Stat. 323 ; Oct. 16, 1962, Pub. L. 87-834, 14(b)(3), 76 Stat. 1041; Dec. 31, 1970, Pub. L. 91-614, title I, 101(g), 84 Stat. 1838; Oct. 4, 1976, Pub. L. 94-455, title XIV, 1402(b)(1)(Q), (2), title XIX, 1906(b) (13)(A), 90 Stat. 1732, 1834; Nov. 6, 1978, Pub. L. 95-600, title VII, 702(c)(5), 92 Stat. 2927; Apr. 2, 1980, Pub. L. 96-223, title IV, 401(a), 94 Stat. 299; Jan. 12, 1983, Pub. L. 97-448, title I, 104(b)(3)(C), 105(c)(4), 96 Stat. 2382, 2385; July 18, 1984, Pub. L. 98-369, div. A, title I, 54(c), title V, 541(b)(1), title X, 1001(b)(14), 98 Stat. 569, 890, 1011; Nov. 10, 1988, Pub. L. 100-647, title I, 1006(e)(17), 102 Stat. 3403; Pub. L. 105-34, title III, Sec. 312(d)(9), 313(b)(2), Aug. 5, 1997, 111 Stat 788; Pub. L. 105-206, title V, Sec. 5001(a), title VI, Sec. 6005, July 22, 1998, 112 Stat. 685; Pub. L. 106-554, Sec. 116, 401, Dec. 21, 2000, 114 Stat. 2763; Pub. L. 108-357, title IV, Sec. 413(c)(21), Oct. 22, 2004, 118 Stat. 1418; Pub. L. 109-135, title IV, Sec. 402(a)(2), Dec. 21, 2005, 119 Stat. 2577; Pub. L. 113-295, Div. A, Sec. 221(a)(80), Dec. 19, 2014, 128 Stat. 4010; Pub. L. 115-141, Div. U, title IV, Sec. 401(d)(4)(B)(vi), Mar. 23, 2018, 132 Stat. 348.)
2018 — Par. (13). Pub. L. 115-141, Div. U, Sec. 401(d)(4)(B)(vi), amended par. (13) by substituting “subsections (a)(2) and (c)(2)(A) of section 1202” for “sections 1202(a)(2), 1202(c)(2)(A), 1400B(b), and 1400F(b)”.
2014 — Par. (1). Pub. L. 113-295, Div. A, Sec. 221(a)(80)(A), amended par. (1) by striking “after March 1, 1954,”.
Par. (4). Pub. L. 113-295, Div. A, Sec. 221(a)(80)(B), amended par. (4) by striking “(or under so much of section 1052(c) as refers to section 113(a)(23) of the Internal Revenue Code of 1939)”.
Par. (6). Pub. L. 113-295, Div. A, Sec. 221(a)(80)(C), struck par. (6). Before being struck, it read as follows:
“(6) In determining the period for which the taxpayer has held a residence, the acquisition of which resulted under section 1034 (as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997) in the nonrecognition of any part of the gain realized on the sale or exchange of another residence, there shall be included the period for which such other residence had been held as of the date of such sale or exchange. For purposes of this paragraph, the term “sale or exchange” includes an involuntary conversion occurring after December 31, 1950, and before January 1, 1954.”
Par. (8). Pub. L. 113-295, Div. A, Sec. 221(a)(80)(C), struck par. (8). Before being struck, it read as follows:
“(8) Any reference in this section to a provision of this title shall, where applicable, be deemed a reference to the corresponding provision of the Internal Revenue Code of 1939, or prior internal revenue laws.”
2005 — Par. (3)-(16). Pub. L. 109-135, Sec. 402(a)(2), struck par. (3) and redesignated par. (4)-(16) redes. as par. (3)-(15), respectively. Before being struck par. (3) read as follows:
“(3) In determining the period for which the taxpayer has held stock or securities received upon a distribution where no gain was recognized to the distributee under section 1081(c) (or under section 112(g) of the Revenue Act of 1928, 45 Stat. 818, or the Revenue Act of 1932, 48 Stat. 705), there shall be included the period for which he held the stock or securities in the distributing corporation before the receipt of the stock or securities on such distribution.”
2004 - Par. (10)-(17). Pub. L. 108-357, Sec. 413(c)(21), struck par. (10) and redesignated par. (11)-(17) as par. (10)-(16), respectively. Before being struck, par. (10) read as follows:
“(10) In determining the period for which the taxpayer has held trust certificates of a trust to which subsection (d) of section 1246 applies, or the period for which the taxpayer has held stock in a corporation to which subsection (d) of section 1246 applies, there shall be included the period for which the trust or corporation (as the case may be) held the stock of foreign investment companies.”
2000--Par. (15). Pub. L. 106-554, Sec. 116(b)(2), amended par. (15). Before amendment it read as follows:
“(15) In determining the period for which the taxpayer has held property the acquisition of which resulted under section 1045 in the nonrecognition of any part of the gain realized on the sale of other property, there shall be included the period for which such other property has been held as of the date of such sale.”
Par. (16)-(17). Pub. L. 106-554, Sec. 401(h)(1), redesignated par. (16) as par. (17) and added new par. (16).
1998--Par. (11). Pub. L. 105-206, Sec. 6005(d)(4), amended par. (11) by substituting “18 months” for “1 year”.
Par. (11). Pub. L. 105-206, Sec. 5001(a)(5), amended par. (11) by substituting “1 year” for “18 months”.
Par. (12). Pub. L. 105-206, Sec. 6005(d)(4), amended par. (12) by substituting “18 months” for “1 year”.
Par. (12). Pub. L. 105-206, Sec. 5001(a)(5), amended par. (12) by substituting “1 year” for “18 months”.
1997--Par. (7). Pub. L. 105-34, Sec. 312(d)(9) inserted “(as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997)” after “1034”.
Par. (15), (16). Pub. L. 105-34, Sec. 313(b)(2) redesignated paragraph (15) as paragraph (16) and inserted a new paragraph (15).
1988--Par. (14). Pub. L. 100-647 amended par. (14) generally, substituting “reference” for “references” in heading, striking out “(A)” before “For special holding”, and striking out subpar. (B) which related to distributions of appreciated property to corporations.
1984--Pars. (11), (12). Pub. L. 98-369, 1001(b)(14), substituted “6 months” for “1 year”.
Par. (13). Pub. L. 98-369, 541(b)(1), added par. (13). Former par. (13) redesignated (14).
Par. (14). Pub. L. 98-369, 541(b)(1), redesignated former par. (13) as (14).
Pub. L. 98-369, 54(c), designated existing cross reference as subpar. (A) and added subpar. (B).
1983--Par. (8). Pub. L. 97-448, 105(c)(4), inserted “(other than a commodity futures contract to which section 1256 applies)" after “acquired in satisfaction of a commodity futures contract”.
Pars. (12), (13). Pub. L. 97-448, 104(b)(3)(C), added par. (12) and redesignated former par. (12) as (13).
1980--Par. (11)(A). Pub. L. 96-223 repealed the amendment made by Pub. L. 95-600. See 1978 Amendment note below.
1978--Par. (11)(A). Pub. L. 95-600 inserted reference to determination of basis of property under section 1023. See Repeals note below.
1976--Par. (5). Pub. L. 94-455, 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Par. (11). Pub. L. 94-455, 1402(b)(2), provided that “9 months” would be changed to “1 year”.
Pub. L. 94-455, 1402(b)(1)(Q), provided that “6 months” would be changed to “9 months" for taxable years beginning in 1977.
1970--Pars. (11), (12). Pub. L. 91-614 added par. (11) and redesignated former par. (11) as (12).
1962--Pars. (10), (11). Pub. L. 87-834 added par. (10) and redesignated former par. (10) as (11).
Amendment by Pub. L. 115-141, Div. U, Sec. 401(d)(4)(B)(vi), effective March 23, 2018.
Amendments by Pub. L. 113-296, Div. A, Sec. 221(a)(80), effective on the date of the enactment of this Act [Enacted: Dec. 19, 2014].
Amendments by Section 402(a)(2) of Pub. L. 109-135 effective as if included in the provisions of the Energy Policy Act of 2005 [Pub. L. 109-58, Sec. 1263], except with respect to any transaction ordered in compliance with the Public Utility Holding Company Act of 1935 before its repeal.
Amendments by Section 413(c)(21) of Pub. L. 108-357 effective for taxable years of foreign corporations beginning after December 31, 2004, and to taxable years of United States shareholders with or within which such taxable years of foreign corporations end.
Amendment by Section 116(b)(2) of Pub. L. 106-554 effective qualified empowerment zone assets acquired after the date of the enactment of this Act [Enactment Date: Dec. 21, 2000].
Amendments by Section 401(h)(1) of Pub. L. 106-554 effective on the date of the enactment of this Act.
Amendments by Section 6005(d)(4) of Pub. L. 105-206 effective as if included in the provisions of the Taxpayer Relief Act of 1997 to which they relate [Effective Date of Pub. L. 105-34, Sec. 311: taxable years ending after May 6, 1997, but see election set forth in section 1].
Amendments by Section 5001(a)(5) of Pub. L. 105-206 effective January 1, 1998.
Amendment by Section 312(d)(9) of Pub. L. 105-34 applicable to sales and exchanges after May 6, 1997. Special rules provided for by section 312(d)[e] of Pub. L. 105-34 are set out in Section 121.
Amendment by Section 313(b)(2), of Pub. L. 105-34 applicable to sales after the date of enactment of such Act [enacted: Aug. 5, 1997].
Amendment by section 541(b)(1) of Pub. L. 98-369 applicable to sales of securities in taxable years beginning after July 18, 1984, see section 541(c) of Pub. L. 98-369, set out as an Effective Date note under section 1042 of this title.
Amendment by section 1001(b)(14) of Pub. L. 98-369 applicable to property acquired after June 22, 1984, and before Jan. 1, 1988, see section 1001(e) of Pub. L. 98-369, set out as a note under section 166 of this title.
Amendment by Pub. L. 96-223 (repealing section 702(c)(5) of Pub. L. 95-600 and the amendments made thereby, which had amended this section) applicable in respect of decedents dying after Dec. 31, 1976, and except for certain elections, this title to be applied and administered as if those repealed provisions had not been enacted, see section 401(b), (e) of Pub. L. 96-223, set out as a note under section 1023 of this title.
Amendment by Pub. L. 95-600 to take effect as if included in the amendments and additions made by, and the appropriate provisions of Pub. L. 94-455, see section 702(c)(10) of Pub. L. 95-600, set out as a note under section 1014 of this title.
Section 1402(b)(1) of Pub. L. 94-455 provided that the amendment made by section 1402(b)(1)(Q) of Pub. L. 94-455 is effective with respect to taxable years beginning in 1977.
Amendment by Pub. L. 87-834 applicable with respect to taxable years beginning after Dec. 31, 1962, see section 14(c) of Pub. L. 87-834, set out as an Effective Date note under section 1246 of this title.
Pub. L. 95-600, 702(c)(5), cited as a credit to this section, and the amendments made thereby, were repealed by Pub. L. 96-223, title IV, 401(a), 94 Stat. 299, resulting in the text of this section reading as it read prior to enactment of section 702(c)(5). See Effective Date of 1980 Amendment and Revival of Prior Law note set out above.