Basis of property acquired
In the case of property purchased by the taxpayer in a transaction described in section 1033(a)(2), in applying section 1033(b)(2), such sentence 1 1 See References in Text note below. shall be applied—
(i)#
first solely to section 1250 properties and to the amount of gain not taken into account under subsection (a) by reason of this paragraph, and
(ii)#
then to all purchased properties to which such sentence applies and to the remaining gain not recognized on the transaction as if the cost of the section 1250 properties were the basis of such properties computed under clause (i).
In the case of property acquired in any other transaction to which this paragraph applies, rules consistent with the preceding sentence shall be applied under regulations prescribed by the Secretary.