---
urn: urn:us-la:rs:47:153
citation: "R.S. 47:153"
status: active
breadcrumb: "Title 47 › Subtitle II › Chapter 1 › Part II › Subpart B"
acts_citations:
  - { year: 1958, number: 242, section: 9, effective_date: null, role: enactment }
---

# 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.