Section 24947 Of Article 3. Nontaxable Exchanges From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 15. >> Article 3.

. (a) Section 1033(b) of the Internal Revenue Code, relating to basis of property acquired through involuntary conversion, shall apply, except as otherwise provided.
  (b) Section 1033(b)(1) of the Internal Revenue Code is modified by substituting "subdivision (a) of Section 24943" in lieu of "subsection (a)(1)."
  (c) Section 1033(b)(2) of the Internal Revenue Code is modified by substituting "subdivision (b) of Section 24943" in lieu of "subsection (a)(2)."
  (d) Section 1033(b)(3) of the Internal Revenue Code is modified by substituting "subdivision (b) of Section 24943" in lieu of "subsection (a)(2)(E)."