Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 24947 — Nontaxable Exchanges
Cal. Rev. & Tax. Code § 24947
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Date
- 1997-10-03
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Section 1033(b) of the Internal Revenue Code, relating to basis of property acquired through involuntary conversion, shall apply, except as otherwise provided.
Citator
Cal. Rev. & Tax. Code § 24947 — Nontaxable Exchanges is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Section 1033(b) of the Internal Revenue Code, relating to basis of property acquired through involuntary conversion, shall apply, except as otherwise provided.
(b) Section 1033(b)(1) of the Internal Revenue Code is modified by substituting “subdivision (a) of Section 24943” in lieu of “subsection (a)(1).”
(c) Section 1033(b)(2) of the Internal Revenue Code is modified by substituting “subdivision (b) of Section 24943” in lieu of “subsection (a)(2).”
(d) Section 1033(b)(3) of the Internal Revenue Code is modified by substituting “subdivision (b) of Section 24943” in lieu of “subsection (a)(2)(E).”