California Revenue and Taxation Code

§ 24947

RTC § 24947 Effective Oct 3, 1997Div. 2 · Part 11 · Ch. 15 · Art. 3

Statute text

(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).”

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Legislative history

Repealed and added by Stats. 1997, Ch. 611, Sec. 98. Effective October 3, 1997.