26 CFR · Internal Revenue
§ 1.642(a)(1)-1 — Partially tax-exempt interest.
26 CFR § 1.642(a)(1)-1
This text of 26 C.F.R. § 1.642(a)(1)-1 (Partially tax-exempt interest.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 C.F.R. § 1.642(a)(1)-1 (2026).
Text
§ 1.642(a)(1)-1 Partially tax-exempt interest.
An estate or trust is allowed the credit against tax for partially tax-exempt interest provided by section 35 only to the extent that the credit does not relate to interest properly allocable to a beneficiary under section 652 or 662 and the regulations thereunder. A beneficiary of an estate or trust is allowed the credit against tax for partially tax-exempt interest provided by section 35 only to the extent that the credit relates to interest properly allocable to him under section 652 or 662 and the regulations thereunder. If an estate or trust holds partially tax-exempt bonds and elects under section 171 to treat the premium on the bonds as amortizable, the credit allowable under section 35, with respect to the bond interest (whether allowa
Free access — add to your briefcase to read the full text and ask questions with AI
Related
§ 1.642
26 C.F.R. § 1.642
Nearby Sections
11
§ 1.641(b)-2
Filing of returns and payment of the tax.§ 1.641(b)-3
Termination of estates and trusts.§ 1.641(c)-0
Table of contents.§ 1.641(c)-1
Electing small business trust.§ 1.642(a)(1)-1
Partially tax-exempt interest.§ 1.642(a)(2)-1
Foreign taxes.§ 1.642(a)(3)-1
Dividends received by an estate or trust.§ 1.642(a)(3)-2
Time of receipt of dividends by beneficiary.§ 1.642(a)(3)-3
Cross reference.§ 1.642(b)-1
Deduction for personal exemption.Cite This Page — Counsel Stack
Bluebook (online)
26 C.F.R. § 1.642(a)(1)-1, Counsel Stack Legal Research, https://law.counselstack.com/cfr/26/1/1.642(a)(1)-1.