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26 U.S.C. § 334

Basis of property received in liquidations

United States · Title 26 — INTERNAL REVENUE CODE · Status: effective

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26 U.S.C. § 334, Basis of property received in liquidations, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462385
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If property is received in a distribution in complete liquidation, and if gain or loss is recognized on receipt of such property, then the basis of the property in the hands of the distributee shall be the fair market value of such property at the time of the distribution. If property is received by a corporate distributee in a distribution in a complete liquidation to which section 332 applies (or in a transfer described in section 337(b)(1)), the basis of such property in the hands of such distributee shall be the same as it would be in the hands of the transferor; except that, in the hands of such distributee— For purposes of this subsection, the term “corporate distributee” means only the corporation which meets the stock ownership requirements specified in section 332(b).

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.

  • Amended byPub. L. 94-455(H.R. 10612)1976-10-04
    Tax Reform Act of 1976
    House: no recorded tallySenate: no recorded tally
  • Amended byPub. L. 97-248(H.R. 4961)1982-09-03
    Tax Equity and Fiscal Responsibility Act of 1982
    House: no recorded tallySenate: no recorded tally
  • Amended byPub. L. 99-514(H.R. 3838)1986-10-22
    Tax Reform Act of 1986
    House: no recorded tallySenate: no recorded tally
  • Amended byPub. L. 100-647(H.R. 4333)1988-11-10
    Technical and Miscellaneous Revenue Act of 1988
    House: no recorded tallySenate: no recorded tally
  • Amended byPub. L. 105-277(H.R. 4328)1998-10-21
    Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999
    House: 333–95Senate: 65–29
  • Amended byPub. L. 108-357(H.R. 4520)2004-10-22
    American Jobs Creation Act of 2004
    House: 280–141Senate: 69–17
  • Amended byPub. L. 109-135(H.R. 4440)2005-12-21
    Gulf Opportunity Zone Act of 2005
    House: 415–4Senate: no recorded tally