CHAPTER 145
STATE REVENUE DETERMINATION OF GAIN OR LOSS IN SELLING REAL ESTATE
AN ACT TO AMEND CHAPTER 6 OF THE REVISED CODE OF DELAWARE, 1935, AS AMENDED, ENTITLED "STATE REVENUE", WITH REFERENCE TO THE DETERMINATION OF AMOUNT OF GAIN OR LOSS IN THE SALE OF REAL PROPERTY USED AS A DWELLING OF THE SELLER.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:
Section 1. That Chapter 6 of the Revised Code of Delaware, 1935, as amended, be and the same is hereby further amended by adding at the end of 150. Sec. 116. thereof the following sentence:
"In the event of the sale of real property which has been used as the dwelling of the seller the gain or loss shall be the difference between the cost to the taxable in acquiring the property and the net amount received from the sale."
Section 2. This Act shall apply to real estate sold during the calendar year beginning January 1, 1946 and ending December 31, 1946 and, also, all subsequent years.
Approved April 3, 1947.