26 U.S.C. § 84 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 84. Transfer of appreciated property to political organization

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

(a) General rule.--If--

(1) any person transfers property to a political organization, and

(2) the fair market value of such property exceeds its adjusted basis,

then for purposes of this chapter the transferor shall be treated as having sold such property to the political organization on the date of the transfer, and the transferor shall be treated as having realized an amount equal to the fair market value of such property on such date.

(b) Basis of property.--In the case of a transfer of property to a political organization to which subsection (a) applies, the basis of such property in the hands of the political organization shall be the same as it would be in the hands of the transferor, increased by the amount of gain recognized to the transferor by reason of such transfer.

(c) Political organization defined.--For purposes of this section, the term “political organization” has the meaning given to such term by section 527(e)(1).

Cite this article: FindLaw.com - 26 U.S.C. § 84 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 84. Transfer of appreciated property to political organization - last updated January 01, 2018 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-84/


FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Copied to clipboard