United States IRC sections
Statute section
IRC section 1001
Determination of amount of and recognition of gain or loss
Country
United States
Section
1001
Updated
2026-05-20
Operative text
Section 1001 provides the general rule for computing gain or loss on the disposition of property: amount realized minus adjusted basis. Section 1001(c) provides that recognized gain or loss is generally included in income except as otherwise provided in the Code.
Cross-references
26 U.S.C. 101126 U.S.C. 1012
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This entry cites
Primary sources
- 26 U.S.C. section 1001Verified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.