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26 U.S.C. § 6045B — Returns relating to actions affecting basis of specified securities

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6045B — Returns relating to actions affecting basis of specified securities

**(a) In general** According to the forms or regulations prescribed by the Secretary, any issuer of a specified security shall make a return setting forth— (1) a description of any organizational action which affects the basis of such specified security of such issuer, (2) the quantitative effect on the basis of such specified security resulting from such action, and (3) such other information as the Secretary may prescribe. **(b) Time for filing return** Any return required by subsection (a) shall be filed not later than the earlier of— (1) 45 days after the date of the action described in subsection (a), or (2) January 15 of the year following the calendar year during which such action occurred. **(c) Statements to be furnished to holders of specified securities or their nominees** According to the forms or regulations prescribed by the Secretary, every person required to make a return under subsection (a) with respect to a specified security shall furnish to the nominee with respect to the specified security (or certificate holder if there is no nominee) a written statement showing— (1) the name, address, and phone number of the information contact of the person required to make such return, (2) the information required to be shown on such return with respect to such security, and (3) such other information as the Secretary may prescribe. The written statement required under the preceding sentence shall be furnished to the holder on or before January 15 of the year following the calendar year during which the action described in subsection (a) occurred. **(d) Specified security** For purposes of this section, the term “specified security” has the meaning given such term by section 6045(g)(3)(B). No return shall be required under this section with respect t

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Source location: Title 26, Chapter 61, § 6045B; chapter-061-information-and-returns.md

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 1012 — Basis of property—cost

**(a) In general** The basis of property shall be the cost of such property, except as otherwise provided in this subchapter and subchapters C (relating to corporate distributions and adjustments), K (relating to partners and partnerships), and P (relating to capital gains and losses). **(b) Special rule for apportioned real estate taxes** The cost of real property shall not include any amount in respect of real property taxes which are treated under section 164(d) as imposed on the taxpayer. **(c) Determinations by account** (1) **In general** — In the case of the sale, exchange, or other disposition of a specified security on or after the applicable date, the conventions prescribed by regulations under this section shall be applied on an account by account basis. (2) **Application to certain regulated investment companies** (A) *In general* — Except as provided in subparagraph (B), any stock for which an average basis method is permissible under this section which is acquired before January 1, 2012, shall be treated as a separate account from any such stock acquired on or after such date. (B) *Election for treatment as single account* — If a regulated investment company described in subparagraph (A) elects to have this subparagraph apply with respect to one or more of its stockholders— (i) subparagraph (A) shall not apply with respect to any stock in such regulated investment company held by such stockholders, and (ii) all stock in such regulated investment company which is held by such stockholders shall be treated as covered securities described in section 6045(g)(3) without regard to the date of the acquisition of such stock. A rule similar to the rule of the preceding sentence shall apply with respect to a broker holding such stock as a nom

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6045B — Returns relating to actions affecting

Page 3366 TITLE 26—INTERNAL REVENUE CODE § 6045B Editorial Notes AMENDMENTS 2021—Subsec. (a). Pub. L. 117–58, § 80603(b)(2)(A)(i), struck out ‘‘a security which is’’ after ‘‘section 6045(c)(1))’’. Subsec. (d). Pub. L. 117–58, § 80603(b)(2)(A)(ii), added subsec. (d). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2021 AMENDMENT Amendment by Pub. L. 117–58 applicable to returns required to be filed, and statements required to be fur- nished, after Dec. 31, 2023, see section 80603(c) of Pub. L. 117–58, set out as a note under section 6045 of this title. EFFECTIVE DATE Section effective Jan. 1, 2011, see section 403(e)(1) of Pub. L. 110–343, set out as an Effective Date of 2008 Amendment note under section 1012 of this title. § 6045B. Returns relating to actions affecting basis of specified securities (a) In general According to the forms or regulations pre- scribed by the Secretary, any issuer of a speci- fied security shall make a return setting forth— (1) a description of any organizational action which affects the basis of such specified secu- rity of such issuer, (2) the quantitative effect on the basis of such specified security resulting from such ac- tion, and (3) such other information as the Secretary may prescribe. (b) Time for filing return Any return required by subsection (a) shall be filed not later than the earlier of— (1) 45 days after the date of the action de- scribed in subsection (a), or (2) January 15 of the year following the cal- endar year during which such action occurred. (c) Statements to be furnished to holders of spec- ified securities or their nominees According to the forms or regulations pre- scribed by the Secretary, every person required to make a return under subsection (a) with re- spect to a sp

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