26 U.S.C. § 1059A
Limitation on taxpayer’s basis or inventory cost in property imported from related persons
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 1059A, Limitation on taxpayer’s basis or inventory cost in property imported from related persons, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462916
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Full text
If any property is imported into the United States in a transaction (directly or indirectly) between related persons (within the meaning of section 482), the amount of any costs—
For purposes of this section—
The term “customs value” means the value taken into account for purposes of determining the amount of any customs duties or any other duties which may be imposed on the importation of any property.
Except as provided in regulations, the term “import” means the entering, or withdrawal from warehouse, for consumption.
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.
- Tax Reform Act of 1986House: no recorded tallySenate: no recorded tally