[Code of Federal Regulations]
[Title 26, Volume 6]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.453-10]

[Page 129]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.453-10  Effective date.

    (a) Except as provided in this section, the provisions of section 
453 and Sec. Sec. 1.453-1 through 1.453-9 shall apply to taxable years 
beginning after December 31, 1953, and ending after August 16, 1954.
    (b) The provisions of paragraphs (a) (2) and (3), (b), and (c) of 
Sec. 1.453-8 shall apply to taxable years ending after December 17, 
1958.
    (c) Under the provisions of sections 453(b) and 7851(a)(1)(C), 
section 453(b)(1) and the regulations with respect thereto shall also 
apply--
    (1) To a sale or other disposition during a taxable year beginning 
before January 1, 1954, only if the income was returnable (by reason of 
section 44(b) of the Internal Revenue Code of 1939) on the basis and in 
the manner prescribed in section 44(a) of such code.
    (2) To a sale or other disposition during a taxable year beginning 
after December 31, 1953, and ending before August 17, 1954, though such 
taxable year is subject to the provisions of the Internal Revenue Code 
of 1939.
    (d) Under the provisions of sections 453(c)(1)(B) and 7851(a)(1)(C) 
section 453(c) and the regulations with respect thereto shall also apply 
to taxable years beginning after December 31, 1953, and ending before 
August 17, 1954, though such taxable years are subject to the provisions 
of the Internal Revenue Code of 1939.
    (e) The provisions of paragraph (b)(3) of Sec. 1.453-6 shall apply 
to repossessions occurring after December 18, 1958.
    (f) The provisions of section 453(d)(5) and paragraph (g) of Sec. 
1.453-9 shall apply to taxable years ending after December 31, 1957, but 
only as to transfers or other dispositions of installment obligations 
occurring after such date.

[T.D. 6500, 25 FR 11718, Nov. 26, 1960, as amended by T.D. 6590, 27 FR 
1320, Feb. 13, 1962; T.D. 6682, 28 FR 11177, Oct. 18, 1963]