---
kind: "section"
citation: "26 U.S.C. § 1053"
title: "26"
title_heading: "Internal Revenue Code"
number: "1053"
heading: "Property acquired before March 1, 1913"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/26/1053"
units:
  - "Subtitle A — Income Taxes"
  - "Chapter 1 — Normal Taxes and Surtaxes"
  - "Subchapter O — Gain or Loss on Disposition of Property"
  - "Part IV — Special Rules"
---

# §1053. Property acquired before March 1, 1913


In the case of [property](/usc/26/317.md?p=a) acquired before March 1, 1913, if the basis otherwise determined under this subtitle, adjusted (for the period before March 1, 1913) as provided in [section 1016](/usc/26/1016.md), is less than the fair market [value](/usc/26/851.md?p=c-4) of the [property](/usc/26/317.md?p=a) as of March 1, 1913, then the basis for determining gain shall be such fair market [value](/usc/26/851.md?p=c-4). In determining the fair market [value](/usc/26/851.md?p=c-4) of [stock](/usc/26/1504.md?p=a-4) in a corporation as of March 1, 1913, due regard shall be given to the fair market [value](/usc/26/851.md?p=c-4) of the assets of the corporation as of that date.


## Source credit

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

## Notes

### Editorial Notes

### Amendments

1958—Pub. L. 85–866 substituted “subtitle” for “part”.

### Statutory Notes and Related Subsidiaries

### Effective Date of 1958 Amendment

Amendment by Pub. L. 85–866 applicable to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, see section 1(c)(1) of Pub. L. 85–866, set out as a note under section 165 of this title.