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Rs 47:149 Unadjusted Basis; Involuntary Conversions

§149. Unadjusted basis; involuntary conversions

If the property was acquired, after December 31, 1933, as the result of a compulsory or involuntary conversion described in R.S. 47:136 the basis shall be the same as in the case of the property so converted, decreased in the amount of any money received by the taxpayer which was not expended in accordance with the provisions of law, applicable to the year in which such conversion was made, determining the taxable status of the gain or loss upon such conversion, and increased in the amount of gain or decreased in the amount of loss to the taxpayer recognized upon such conversion under the law applicable to the year in which such conversion was made.

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Local Government
Louisiana
3
8
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John Bel Edwards
John Bel Edwards
January 11, 2016 -
Democratic
1-225-342-4404
900 North 3rd Street, Baton Rouge, LA, 70802

Keywords
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