26 USC 1021: Sale of annuities
Text contains those laws in effect on June 29, 2024
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter O-Gain or Loss on Disposition of PropertyPART II-BASIS RULES OF GENERAL APPLICATION
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§1021. Sale of annuities
In case of the sale of an annuity contract, the adjusted basis shall in no case be less than zero.