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HOMETAX NOTES RESEARCHFEDERALINTERNAL REVENUE CODE OF 1986

Sec. 1021 Sale of annuities

  • Internal Revenue Code of 1986
  • SUBTITLE A -- INCOME TAXES
  • Chapter 1 -- Normal Taxes and Surtaxes
  • Subchapter O -- Gain or Loss on Disposition of Property
  • Part II -- Basis rules of general application

In case of the sale of an annuity contract, the adjusted basis shall in no case be less than zero.

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