§153. Unadjusted basis; property converted from personal use In the case of property converted from personal use to business use or to use for profit, the basis shall be the lower of: (1) the fair market value of such property at the time of the conversion; or (2) the basis as otherwise determined under R.S. 47:140. Amended by Acts 1958, No. 242, §9.
Unadjusted basis; property converted from personal use
La. Rev. Stat. § 47:153, under Revenue and Taxation.
La. Rev. Stat. § 47:153