26 U.S.C. § 1019
§ 1019. Property on which lessee has made improvements
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Part of the code since 1954. Last changed December 19, 2014 by the Tax Increase Prevention Act of 2014.
Every change, newest first (2)
- December 19, 2014Tax Increase Prevention Act of 2014
- August 16, 1954Internal Revenue Code of 1954 (original text)
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Neither the basis nor the adjusted basis of any portion of real property shall, in the case of the lessor of such property, be increased or diminished on account of income derived by the lessor in respect of such property and excludable from gross income under section 109 (relating to improvements by lessee on lessor’s property).