FEDERAL · 26 U.S.C. · Chapter 12
Dispositions of certain life estates
Current through Pub. L. 119-102
(a)General rule
For purposes of this chapter and chapter 11, any disposition of all or part of a qualifying income interest for life in any property to which this section applies shall be treated as a transfer of all interests in such property other than the qualifying income interest.
(b)Property to which this subsection applies
This section applies to any property if a deduction was allowed with respect to the transfer of such property to the donor—
(c)Cross reference
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26 U.S.C. § 2519 (Dispositions of certain life estates) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Estate of Morgens v. Commissioner
678 F.3d 769 (Ninth Circuit, 2012)
Clemency v. Department of Revenue
175 Wash. 2d 549 (Washington Supreme Court, 2012)
Estate of Brooks v. Commissioner of Revenue Services
159 A.3d 1149 (Supreme Court of Connecticut, 2017)
Shaffer v. Commissioner of Revenue
(Massachusetts Supreme Judicial Court, 2020)
Source Credit
History
(Added Pub. L. 97–34, title IV, §403(d)(3)(B)(i), Aug. 13, 1981, 95 Stat. 304; amended Pub. L. 97–448, title I, §104(a)(3), (7), Jan. 12, 1983, 96 Stat. 2380, 2381.)
Editorial Notes
For right of recovery for gift tax in the case of property treated as transferred under this section, see section 2207A(b).
Editorial Notes
Amendments
1983—Pub. L. 97–448, §104(a)(3)(B), amended directory language of Pub. L. 97–34, §403(d)(3)(B)(i), to clarify that this section be inserted at end of subchapter B of chapter 12, rather than at end of subchapter B of chapter 11, and did not involve any change in text.
Subsec. (a). Pub. L. 97–448, §104(a)(3)(A), substituted "For purposes of this chapter and chapter 11, any disposition" for "Any disposition" and "treated as a transfer of all interests in such property other than the qualifying income interest" for "treated as a transfer of such property".
Subsec. (c). Pub. L. 97–448, §104(a)(7), added subsec. (c).
Statutory Notes and Related Subsidiaries
Effective Date of 1983 Amendment
Amendment by Pub. L. 97–448 effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, Pub. L. 97–34, to which such amendment relates, see section 109 of Pub. L. 97–448, set out as a note under section 1 of this title.
Effective Date
Section applicable to gifts made after Dec. 31, 1981, see section 403(e)(2) of Pub. L. 97–34, set out as an Effective Date of 1981 Amendment note under section 2056 of this title.
Editorial Notes
Amendments
1976—Pub. L. 94–455, title XX, §2001(c)(2)(B)(ii), Oct. 4, 1976, 90 Stat. 1853, struck out item 2521 "Specific exemption".
Editorial Notes
Amendments
1983—Pub. L. 97–448, §104(a)(3)(B), amended directory language of Pub. L. 97–34, §403(d)(3)(B)(i), to clarify that this section be inserted at end of subchapter B of chapter 12, rather than at end of subchapter B of chapter 11, and did not involve any change in text.
Subsec. (a). Pub. L. 97–448, §104(a)(3)(A), substituted "For purposes of this chapter and chapter 11, any disposition" for "Any disposition" and "treated as a transfer of all interests in such property other than the qualifying income interest" for "treated as a transfer of such property".
Subsec. (c). Pub. L. 97–448, §104(a)(7), added subsec. (c).
Statutory Notes and Related Subsidiaries
Effective Date of 1983 Amendment
Amendment by Pub. L. 97–448 effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, Pub. L. 97–34, to which such amendment relates, see section 109 of Pub. L. 97–448, set out as a note under section 1 of this title.
Effective Date
Section applicable to gifts made after Dec. 31, 1981, see section 403(e)(2) of Pub. L. 97–34, set out as an Effective Date of 1981 Amendment note under section 2056 of this title.
Editorial Notes
Amendments
1976—Pub. L. 94–455, title XX, §2001(c)(2)(B)(ii), Oct. 4, 1976, 90 Stat. 1853, struck out item 2521 "Specific exemption".