Alabama Administrative Code
Title 810 - ALABAMA DEPARTMENT OF REVENUE
Chapter 810-3-6 - GAIN OR LOSS - BASIS OF PROPERTY; ADJUSTED BASIS
Section 810-3-6-.17 - Allocation Of Basis
Universal Citation: AL Admin Code R 810-3-6-.17
Current through Register Vol. 43, No. 02, November 27, 2024
Effective for tax years beginning after December 31, 1997, if property is acquired in an applicable asset acquisition as defined by 26 U.S.C. § 1060, the basis of the acquired property shall be determined in accordance with 26 U.S.C. § 1060. Federal regulations and determinations for 26 U.S.C. § 1060 will be followed in the administration of this section.
Author: Ed Cutter, CPA
Statutory Authority: Code of Ala. 1975, §§ 40-2A-7(a)(5), 40-18-6.
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