§1014. Basis of property acquired from a decedent — Inbound Citations
26 U.S.C. § 1014
Cited by 16 provisions in release 119-102.
Citations to 26 U.S.C. § 1014 as a whole
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(I) under section 1014 (relating to property acquired from a decedent),
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(1) In determining gain or loss from the sale or other disposition of a term interest in property, that portion of the adjusted basis of such interest which is determined pursuant to section 1014, 1015, or 1041 (to the extent that such adjusted basis is a portion of the entire adjusted basis of the property) shall be disregarded.
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(A) the basis of such property in the hands of such person is determined under section 1014, and
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(1) the reduction under subsection (e) of such section shall be the excess of the basis determined under section 1014 over the adjusted basis of the stock immediately before the decedent’s death, and
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(i) In the case of stock of a passive foreign investment company which is acquired by bequest, devise, or inheritance (or by the decedent’s estate) and with respect to which an election under this section was in effect as of the date of the decedent’s death, notwithstanding section 1014, the basis of such stock in the hands of the person so acquiring it shall be the adjusted basis of such stock in the hands of the decedent immediately before his death (or, if lesser, the basis which would have been determined under section 1014 without regard to this subsection).
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(B) The basis determined under section 1014 of any stock in an S corporation shall be reduced by the portion of the value of the stock which is attributable to items constituting income in respect of the decedent.
Citations to §1014(a)
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(II) under section 1014(a) (relating to property acquired from a decedent).
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(II) by a person whose basis in such building is determined under section 1014(a) (relating to property acquired from a decedent),
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(ii) under section 1014(a) (relating to property acquired from a decedent).
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(D) Subparagraph (A) shall not apply to the acquisition of any property by the taxpayer if the basis of the property in the hands of the taxpayer is determined under section 1014(a).
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(i) the basis of the stock in the hands of the purchasing corporation is not determined (I) in whole or in part by reference to the adjusted basis of such stock in the hands of the person from whom acquired, or (II) under section 1014(a) (relating to property acquired from a decedent),
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(i) the basis of the property acquired in the hands of the acquirer is not determined (I) in whole or in part by reference to the adjusted basis of such property in the hands of the person from whom acquired, or (II) under section 1014(a), and
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(2) If property is transferred in a taxable termination which occurs at the same time as and as a result of the death of an individual, the basis of such property shall be adjusted in a manner similar to the manner provided under section 1014(a); except that, if the inclusion ratio with respect to such property is less than 1, any increase or decrease in basis shall be limited by multiplying such increase or decrease (as the case may be) by the inclusion ratio.
Citations to §1014(b)
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(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—(A) the basis of such property in the hands of such person is determined under section 1014, and(B) such property is sold or otherwise disposed of by such person within 1 year after the decedent’s death,then such person shall be considered to have held such property for more than 1 year.
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(A) such property is so considered under section 1014(b) (relating to basis of property acquired from a decedent),
Citations to §1014(f)
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(k) For purposes of this section, the term “inconsistent estate basis” means any portion of an underpayment attributable to the failure to comply with section 1014(f).