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Unadjusted basis; property converted from personal use

La. R.S. 47:153
in effect
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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. Amended by Acts 1958, No. 242, §9.
Source: Louisiana State Legislature (legis.la.gov)URL: https://legis.la.gov/legis/Law.aspx?d=101245Fetched: 10/20/2026

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La. R.S. 47:153 — Unadjusted basis; property converted from personal use | Louisiana Revised Statutes, Codes and Constitution (through the 2025 First Extraordinary Session) | Corpus