26 U.S.C. § 1058
Transfers of securities under certain agreements
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 1058, Transfers of securities under certain agreements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462914
- Permanent ID
ys:prov:462914@1- SHA-256
16e81d02c73e5c60d8f9029eac3a09fd5fc0df25fbc60f283b469c14397ac7b2
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
In the case of a taxpayer who transfers securities (as defined in section 1236(c)) pursuant to an agreement which meets the requirements of subsection (b), no gain or loss shall be recognized on the exchange of such securities by the taxpayer for an obligation under such agreement, or on the exchange of rights under such agreement by that taxpayer for securities identical to the securities transferred by that taxpayer.
In order to meet the requirements of this subsection, an agreement shall—
Property acquired by a taxpayer described in subsection (a), in a transaction described in that subsection, shall have the same basis as the property transferred by that taxpayer.
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.
- An Act to amend the Internal Revenue Code of 1954 with respect to the treatment of mutual or cooperative telephone company income from nonmember telephone companies, and for other purposes.House: no recorded tallySenate: no recorded tally