{"identifier":"/us/usc/t46/s53307","title":46,"num":"\u00a7\u202f53307.","heading":"Basis for determining gain or loss and for depreciating new vessels","text":"\u00a7\u202f53307.\nBasis for determining gain or loss and for depreciating new vessels\nUnder the income or excess profits tax laws of the United States, the basis for determining a gain or loss and for depreciation of a new vessel constructed, reconstructed, reconditioned, or acquired by the taxpayer, or for which purchase-money indebtedness is liquidated as provided in\nsection 53310 of this title\nsection 53306 of this title","url":"https://projectusc.org/usc/t46/s53307.html","content":[{"t":"sec","id":"/us/usc/t46/s53307","children":[{"t":"num","text":"\u00a7\u202f53307."},{"t":"heading","text":"Basis for determining gain or loss and for depreciating new vessels"},{"t":"content","text":"\n","children":[{"t":"p","text":"Under the income or excess profits tax laws of the United States, the basis for determining a gain or loss and for depreciation of a new vessel constructed, reconstructed, reconditioned, or acquired by the taxpayer, or for which purchase-money indebtedness is liquidated as provided in ","children":[{"t":"ref","text":"section 53310 of this title","href":"/us/usc/t46/s53310","tail":", with amounts from a construction reserve fund, shall be reduced by that part of the deposits in the fund expended in the construction, reconstruction, reconditioning, acquisition, or liquidation of purchase-money indebtedness of the new vessel that represents a gain not recognized for tax purposes under "},{"t":"ref","text":"section 53306 of this title","href":"/us/usc/t46/s53306","tail":"."}],"tail":"\n"}]},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}