Section 18036 Of Chapter 13. Gain Or Loss On Disposition Of Property From California Revenue And Taxation Code >> Division 2. >> Part 10. >> Chapter 13.
18036
. (a) In addition to the adjustments to basis provided by
Section 1016(a) of the Internal Revenue Code, a proper adjustment
shall also be made for amounts allowed as deductions as deferred
expenses under subdivision (b) of former Section 17689 or former
Section 17689.5 (relating to certain exploration expenditures) and
resulting in a reduction of the taxpayer's taxes under this part, but
not less than the amounts allowable under those sections for the
taxable year and prior years. A proper adjustment shall also be made
for amounts deducted under Section 17252.5, 17265, or 17266.
(b) Notwithstanding the provisions of Sections 164(a) and 1016(a)
of the Internal Revenue Code, no adjustment to basis shall be made
for any of the following:
(1) Abandonment fees paid in respect of property on which the
open-space easement is terminated under Section 51061 or 51093 of the
Government Code.
(2) Tax recoupment fees paid under Section 51142 of the Government
Code.
(3) Sales or use tax which is paid or incurred by the taxpayer in
connection with the acquisition of property for which a tax credit is
claimed pursuant to Section 17052.13.
(c) The provisions of Section 1016(c) of the Internal Revenue
Code, relating to increase in basis of property on which additional
estate tax is imposed, shall be applicable.
(d) The amendments made to Section 1016 of the Internal Revenue
Code by Section 1913(a) of Public Law 102-486, relating to deduction
for clean-fuel vehicles and certain refueling property, shall apply
to property placed in service after June 30, 1993, without respect to
taxable year.