Title 26, Internal Revenue CodeRelease 119-102

§1013 Basis of Property Included in Inventory

Title 26 › Subtitle A — Income Taxes › CHAPTER 1 — NORMAL TAXES AND SURTAXES › Subchapter O — Gain or Loss on Disposition of Property › PART II — BASIS RULES OF GENERAL APPLICATION › § 1013

Last updated Aug 21, 2026|Official source

Summary

If property should have been listed on the last inventory, use the value shown on that inventory. That amount must be the property's basis for tax purposes.

Full Legal Text

Title 26, §1013

Internal Revenue Code, Source: USLM XML via OLRC

If the property should have been included in the last inventory, the basis shall be the last inventory value thereof.

Reference

Citations & Metadata

Citation

26 U.S.C. § 1013

Title 26, Internal Revenue Code

Last Updated

Aug 21, 2026

Release point: 119-102