Rule 810-3-6-.13

Ala. Admin. Code r. 810-3-6-.13

Basis Of Property Acquired Before January 1, 1933

Effective Jun 2, 1999New Rule: Filed April 28, 1999; effective June 2, 1999.Alabama Department of Revenue

If property was acquired prior to January 1, 1933, the basis for determination of gain, loss, depreciation or depletion is the fair market value on January 1, 1933.

Author: Ed Cutter, CPA

Statutory Authority: Code of Ala. 1975, §§40-2A-7(a)(5), 40-18-6.

History: New Rule: Filed April 28, 1999; effective June 2, 1999.