GAIN FROM SALE OF CERTAIN PROPERTY BETWEEN SPOUSES, ETC.

SEC. 56. GAIN FROM SALE OF CERTAIN PROPERTY BETWEEN SPOUSES, ETC. Section 1239 (relating to gain from sale of certain property between spouses or between an individual and a controlled corporation) is amended by adding at the end thereof the following new subsection: “(c) Section Not Applicable With Respect to Sales or Exchanges Made on or Before May 3, 1951.—This section shall apply only in the case of a sale or exchange made after May 3, 1951.”