§1054 — Certain stock of Federal National Mortgage Association

55 cases·11 followed·2 distinguished·1 questioned·7 overruled·34 cited—20% support

Statute Text — 26 U.S.C. §1054

In the case of a share of stock issued pursuant to section 303(c) of the Federal National Mortgage Association Charter Act (12 U.S.C., sec. 1718), the basis of such share in the hands of the initial holder shall be an amount equal to the capital contributions evidenced by such share reduced by the amount (if any) required by section 162(d) to be treated (with respect to such share) as ordinary and necessary expenses paid or incurred in carrying on a trade or business.

Treasury Regulations

Treas. Reg. §Treas. Reg. §1.1054-1 Certain stock of Federal National Mortgage Association
Treas. Reg. §Treas. Reg. §1.1054-1(a) In general.
Treas. Reg. §Treas. Reg. §1.1054-1(b) Example.

55 Citing Cases

Kenneth A. Carter, Robert J. Kurek, John McFawn, Paul L. Miles, Adolph F. Rivas, Curlee Thomas, and Q.C. Williams, Jr.; Petitioners v. Commissioner of Internal Revenue and A. Finkl & Sons Co., Respondents, Petitioners T.C. Memo. 2013-124 · 2013

1054(g) (2006)), I.R.C. section 411(d)(6), and the Plan's anticutback provisions. . Near the end ofDecember 2008 Finkl mailed a letter to the Commissioner requesting a determination that the Plan, as amended, continued to meet all ofthe qualification requirements ofsection 401(a). In the request Finkl notified the Commissioner ofpetitioners' D

Sunder v. U.S. Bancorp Pension Plan 586 F.3d 593 · Cir.

Lonecke v. CitiGroup Pension Plan 584 F.3d 457 · Cir.

John Cottillion v. United Refining Co 781 F.3d 47 · Cir.

Heinz, Thomas E. v. Central Laborers Pen · Cir.

Romero v. Allstate Corp. 404 F.3d 212 · Cir.

Edward Sunder v. U.S. Bank Pension Plan · Cir.

Gene Romero v. The Allstate Corporation 404 F.3d 212 · Cir.

Thomas E. Heinz and Richard J. Schmitt, Jr. v. Central Laborers' Pension Fund 303 F.3d 802 · Cir.

David McCorkle v. Bank of America Corporation 688 F.3d 164 · Cir.

In Re: Citigroup Pension Plan ERISA · Cir.

Williams v. Rohm and Haas Pension Plan 497 F.3d 710 · Cir.

Battoni v. IBEW Local Union No. 102 Employee Pension Plan 594 F.3d 230 · Cir.

Wetzler v. Illinois CPA Society & Foundation Retirement Income Plan 586 F.3d 1053 · Cir.

Carter v. Pension Plan of A. Finkl & Sons Co. 654 F.3d 719 · Cir.

Bonneau v. Plumbers & Pipefitters Local Union 51 Pension Trust Fund Ex Rel. Bolton 736 F.3d 33 · Cir.

Randal Andersen v. Dhl Retirement Pension Plan 766 F.3d 1205 · Cir.

Williams, Gary v. Rohm and Haas Pensio · Cir.

Thomas Wetzler v. Illinois CPA Society & Foundat · Cir.

Board of Trustees of the Sheet Metal Workers' National Pension Fund, in Its Capacity as Plan Administrator v. Commissioner of Internal Revenue 318 F.3d 599 · Cir.

Swede v. Rochester Carpenters Pension Fund 467 F.3d 216 · Cir.

Alcantara v. Bakery & Confectionery Union & Industry International Pension Fund Pension Plan 751 F.3d 71 · Cir.

The Board of Trustees of the Sheet Metal Workers' National Pension Fund, In Its Capacity As Plan Administrator, Petitioner 117 T.C. No. 19 · 2001

Board of Trustees of the Sheet Metal Workers' National Pension Fund v. Commissioner 117 T.C. 220 · 2001

Eastern Service Corp. v. Commissioner 73 T.C. 833 · 1980

McMillan Mortgage Co. v. Commissioner 36 T.C. 924 · 1961

Duke v. Luxottica U.S. Holdings Corp. · Cir.

Hirt v. EQUITABLE RETIREMENT PLAN FOR EMPLOYEES 533 F.3d 102 · Cir.

Robinson v. Sheet Metal Workers' National Pension Fund 515 F.3d 93 · Cir.

Leckey v. Stefano 501 F.3d 212 · Cir.

Thornton v. Graphic Communications Conference of the International Brotherhood of Teamsters Supplemental Retirement & Disability Fund 566 F.3d 597 · Cir.

Tasker v. DHL Retirement Savings Plan 621 F.3d 34 · Cir.

Campbell v. BankBoston, N.A. 327 F.3d 1 · Cir.

Hirt v. Equitable Retirement Plan for Employees, Managers & Agents 533 F.3d 102 · Cir.

Carter v. Commissioner 746 F.3d 318 · Cir.

William Pender v. Bank of America Corporation 788 F.3d 354 · Cir.

Laurent v. PricewaterhouseCoopers LLP 794 F.3d 272 · Cir.

Robinson v. Sheet Metal Workers' National Pension Fund Plan A · Cir.

Sheet Metal Workers' v. IRS · Cir.

West v. AK Steel Corporation 484 F.3d 395 · Cir.

Charles Thornton v. Graphic Commmunications Conference · Cir.

Brengettsy, Frank M. v. LTV Steel · Cir.

Berger, David v. Xerox Retirement · Cir.

Jennifer Durand v. The Hanover Insurance Group 806 F.3d 367 · Cir.

Bodine v. Employers Casualty Co. 352 F.3d 245 · Cir.

Retirement Committee of DAK Americas LLC v. Brewer 867 F.3d 471 · Cir.

Donna Browe v. CTC Corp. · Cir.

Shaver v. Siemens Corp. 670 F.3d 462 · Cir.

Perreca v. Gluck 295 F.3d 215 · Cir.

David T. Hunter (99-3620) Robert Allison (99-3623) v. Caliber System, Inc., F/k/a Roadway Services, Inc. 220 F.3d 702 · Cir.

Frank M. Brengettsy, on His Own Behalf and That of All Others Similarly Situated v. Ltv Steel (Republic) Hourly Pension Plan, 1 241 F.3d 609 · Cir.

Perreca v. Gluck 295 F.3d 215 · Cir.

David Berger and Gerry Tsupros, on Behalf of Themselves and Others Similarly Situated v. Xerox Corporation Retirement Income Guarantee Plan 338 F.3d 755 · Cir.

West v. Ak Steel Corporation 484 F.3d 395 · Cir.

Dennison v. Mony Life Retirement Income Security Plan for Employees 710 F.3d 741 · Cir.