ARTICLE 2. Basis for Computation of Gain or Loss

Article 2 added by Stats. 1955, Ch. 938.

§§ 24911–24919 · 10 sections

• § 24911 (a) The adjusted basis for determining the gain or loss from the sale or other disposition of property, whenever acquired, shall be the basis (determined under…
• § 24912 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…
• § 24913 If the property should have been included in the last inventory, the basis shall be the last inventory value thereof.
• § 24914 (a) If the property was acquired by gift after December 31, 1920, the basis shall be the same as it would be in the hands of the donor or the last preceding…
• § 24915 (a) If— (1) The property is acquired by gift on or after the date of the enactment of this section, the basis shall be the basis determined under Section…
• § 24916 Proper adjustment with regard to the property shall in all cases be made as follows: (a) For expenditures, receipts, losses, or other items properly chargeable…
• § 24916.2 Notwithstanding the provisions of Section 24916 no adjustment shall be made for (a) abandonment fees paid in respect of property on which the open-space…
• § 24917 Whenever it appears that the basis of property in the hands of the corporation is a substituted basis, then the adjustments provided in Section 24916 shall be…
• § 24918 (a) Section 1017 of the Internal Revenue Code, relating to discharge of indebtedness, shall apply, except as otherwise provided. References to affiliated…
• § 24919 Neither the basis nor the adjusted basis of any portion of real property shall, in the case of the lessor of such property, be increased or diminished on…