[USC02] 26 USC 1056: Repealed. Pub. L. 108-357, title VIII, §886(b)(1)(A), Oct. 22, 2004, 118 Stat. 1641
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*Public Laws 116-315 through 117-1 have been enacted but classifications have not yet been finalized. The currency ("laws in effect") date does not reflect acts for which classification has not been finalized.

26 USC 1056: Repealed. Pub. L. 108-357, title VIII, §886(b)(1)(A), Oct. 22, 2004, 118 Stat. 1641 Text contains those laws in effect on March 8, 2021
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter O-Gain or Loss on Disposition of PropertyPART IV-SPECIAL RULES

[§1056. Repealed. Pub. L. 108–357, title VIII, §886(b)(1)(A), Oct. 22, 2004, 118 Stat. 1641 ]

Section, added Pub. L. 94–455, title II, §212(a)(1), Oct. 4, 1976, 90 Stat. 1545 ; amended Pub. L. 99–514, title VI, §631(e)(13), Oct. 22, 1986, 100 Stat. 2275 , related to basis limitation for player contracts transferred in connection with the sale of a franchise.

A prior section 1056 was renumbered section 1062 of this title.

Effective Date of Repeal

Repeal applicable to property acquired after Oct. 22, 2004, see section 886(c)(1) of Pub. L. 108–357, set out as an Effective Date of 2004 Amendment note under section 197 of this title.