BlackletterCalifornia law

Revenue and Taxation Code § 24912

ARTICLE 2. Basis for Computation of Gain or Loss

Current as of September 28, 2026Rev. & Tax. Code, § 24912Official source ↗

Amended by Stats. 1997, Ch. 605, Sec. 100. Effective January 1, 1998.

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.