RS 47:149
122 words·~1 min read·
/la/title-47/47-155A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 47:149
§149. Unadjusted basis; involuntary conversions
If the property was acquired, after December 31, 1933, as the result of a compulsory or involuntary conversion described in R.S. 47:136 the basis shall be the same as in the case of the property so converted, decreased in the amount of any money received by the taxpayer which was not expended in accordance with the provisions of law, applicable to the year in which such conversion was made, determining the taxable status of the gain or loss upon such conversion, and increased in the amount of gain or decreased in the amount of loss to the taxpayer recognized upon such conversion under the law applicable to the year in which such conversion was made.