§ 1.1013-1. Property included in inventory.
56 words·~1 min read·
/us/cfr/t26/s§ 1.1013-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The basis of property required to be included in inventory is the last inventory value of such property in the hands of the taxpayer. The requirements with respect to the valuation of an inventory are stated in subpart D (section 471 and following), part II, subchapter E, chapter 1 of the Code, and the regulations thereunder.