La. Revenue and Taxation § 47:153

Current with operative changes from the 2024 Third Special Legislative Session

Section 47:153 - Unadjusted basis; property converted from personal use

In the case of property converted from personal use to business use or to use for profit, the basis shall be the lower of:

(1) the fair market value of such property at the time of the conversion; or

(2) the basis as otherwise determined under R.S. 47:140.

La. Revenue and Taxation § 47:153

Amended by Acts 1958, No. 242, §9.

Amended by Acts 1958, No. 242, §9.