ARM 42.23.212. BASIS FOR DISPOSITION OF PROPERTY

(1) The basis for determining gain or loss from the sale or other disposition of property shall be the basis prescribed by the IRC and regulations in effect during the reporting period, except such provisions therein as are inconsistent with the express provisions of these regulations or the Corporate License Tax Act. (2) In applying the federal rules pertaining to basis, the effective date of this act shall be substituted for the effective date of the Federal Income Tax Act.