Awards received in reparation for the seizure, theft, requisition or involuntary conversion of the property of victims of Nazi persecution.

Awards or settlements received in reparation for the seizure, theft, requisition or involuntary conversion of the property of victims of Nazi persecution constitute proceeds from the disposition of property. Gain or loss shall be recognized on the same basis as gain or loss from the sale or exchange of property acquired before June 1, 1971, (see § 103.13(f) (relating to net gains or income from disposition of property)), or property of a decedent acquired by bequest, devise or inheritance or by the decedent’s estate. Source The provisions of this § 125.42 adopted April 16, 1999, effective April 17, 1999, 29 Pa.B. 2037.