California § 18039 - Section 1052 of the Internal Revenue Code, relating to basis established by prior
Full text of California Public Contract Code - PCC § 18039 — Section 1052 of the Internal Revenue Code, relating to basis established by prior, with citation guidance and answers to common questions.
§ 18039. Section 1052 of the Internal Revenue Code, relating to basis established by prior
Section 1052 of the Internal Revenue Code, relating to basis established by prior revenue acts, is modified as follows: (a) Section 1052(c) of the Internal Revenue Code does not apply. (b) If the property was acquired, after February 28, 1913, in a transaction to which the Personal Income Tax Law of 1954 applied, and the basis thereof, for purposes of the Personal Income Tax Law of 1954, was prescribed by Section 17747, 17751, 17755, 17756, 17757, 17758, or 17788 of that law, then for purposes of this part the basis shall be the same as the basis therein prescribed in the Personal Income Tax Law of 1954.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 18039
What does Public Contract Code - PCC § 18039 cover?
Section 18039 ("Section 1052 of the Internal Revenue Code, relating to basis established by prior") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 18039?
A common citation format is "Public Contract Code - PCC § 18039" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 18039 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.