GroundRules
N.Y. General City Model 772/66 § 16: Exchange of property when no gain or loss is realized
Where this section sits in the code
- General City Model 772/66
- Part 3. Financial Corporation Tax
- Subpart 1. Tax On State Banks, Trust Companies, Financial Corporations and Savings and Loan Associations
§ 16. Exchange of property when no gain or loss is realized. When
property is exchanged for other property and no gain or loss is realized
under the provisions of the preceding section, the property received
shall be treated as taking the place of the property exchanged therefor.
Where no gain or loss is realized under the provisions of subdivision
eleven of the preceding section, the basis of the property received
shall be the same as it would be in the hands of the transferror
determined in accordance with the provisions of section fourteen of this
part.
Collected 2026-09-14T19:32:44Z. Source file · JSON