§ 1.1033(a)-3. (a)-3 Involuntary conversion of principal residence.
165 words·~1 min read·
/us/cfr/t26/s§ 1.1033(a)-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1033 shall apply in the case of property used by the taxpayer as his principal residence if the destruction, theft, seizure, requisition, or condemnation of such residence, or the sale or exchange of such residence under threat or imminence thereof, occurs before January 1, 1951, or after December 31, 1953. However, section 1033 shall not apply to the seizure, requisition, or condemnation (but not destruction), or the sale or exchange under threat or imminence thereof, of such residence property if the seizure, requisition, condemnation, sale, or exchange occurs after December 31, 1957, and if the taxpayer properly elects under section 1034(i) to treat the transaction as a sale (see paragraph (h)(2)(ii) of § 1.1034-1).
See section 121 and paragraphs
(d)and
(g)of § 1.121-5 for special rules relating to the involuntary conversion of a principal residence of individuals who have attained age 65. [T.D. 6856, 30 FR 13319, Oct. 20, 1965. Redesignated and amended by T.D. 7625, 44 FR 31013, May 30, 1979]
Connections2 off-index
2 references not yet in our index
- T.D. 6856
- T.D. 7625
Citation graph
cites case law
§ 1.1033(a)-3
(a)-3 Involuntary conversion of principal residence.
Treas. Dec.T.D. 6856
Treas. Dec.T.D. 7625
Cites 2Cited by 0 across 0 sources