{"code":"RTC","codeName":"Revenue and Taxation Code","section":"24912","citation":"Rev. & Tax. Code, § 24912","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. OTHER TAXES [6001. - 61050.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2"},{"name":"PART 11. CORPORATION TAX LAW [23001. - 25141.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11"},{"name":"CHAPTER 15. Gain or Loss on Disposition of Property [24901. - 24998.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-15"},{"name":"ARTICLE 2. Basis for Computation of Gain or Loss [24911. - 24919.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-15/article-2"}],"history":"Amended by Stats. 1997, Ch. 605, Sec. 100.   Effective January 1, 1998.","effective":"1998-01-01","html":"<p>The basis of property shall be the cost of the property, except as otherwise provided in Chapter 8 (commencing with Section <a href=\"/rtc/24451\">24451</a>), relating to corporate distributions and adjustments, and this chapter. The cost of real property shall not include any amount in respect of real property taxes which are treated under Section <a href=\"/rtc/24346\">24346</a> as imposed on a corporation.</p>","text":"The basis of property shall be the cost of the property, except as otherwise provided in Chapter 8 (commencing with Section 24451), relating to corporate distributions and adjustments, and this chapter. The cost of real property shall not include any amount in respect of real property taxes which are treated under Section 24346 as imposed on a corporation.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/basis-for-computation-of-gain-or-loss-24912","source":"California Legislative Information bulk export (pubinfo)"}