26 U.S.C. § 2622 — Taxable amount in case of taxable termination

FEDERAL · 26 U.S.C. · Chapter Subchapter C—Taxable Amount

Taxable amount in case of taxable termination

26 U.S.C. § 2622

ChapterSubchapter C—Taxable Amount

This text of 26 U.S.C. § 2622 (Taxable amount in case of taxable termination) 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 U.S.C. § 2622.

Text

(a)In general For purposes of this chapter, the taxable amount in the case of a taxable termination shall be—

(1)the value of all property with respect to which the taxable termination has occurred, reduced by

(2)any deduction allowed under subsection (b).

(b)Deduction for certain expenses For purposes of subsection (a), there shall be allowed a deduction similar to the deduction allowed by section 2053 (relating to expenses, indebtedness, and taxes) for amounts attributable to the property with respect to which the taxable termination has occurred.

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(a) In general
For purposes of this chapter, the taxable amount in the case of a taxable termination shall be—
(1) the value of all property with respect to which the taxable termination has occurred, reduced by
(2) any deduction allowed under subsection (b).
(b) Deduction for certain expenses
For purposes of subsection (a), there shall be allowed a deduction similar to the deduction allowed by section 2053 (relating to expenses, indebtedness, and taxes) for amounts attributable to the property with respect to which the taxable termination has occurred.

Source Credit

History

(Added Pub. L. 94–455, title XX, §2006(a), Oct. 4, 1976, 90 Stat. 1888; amended Pub. L. 99–514, title XIV, §1431(a), Oct. 22, 1986, 100 Stat. 2720.)

Editorial Notes

Editorial Notes

Amendments
1986—Pub. L. 99–514 amended section generally, substituting provisions relating to taxable amount in case of a taxable termination for former provisions which authorized the Secretary to promulgate regulations. See section 2663 of this title.

Statutory Notes and Related Subsidiaries

Effective Date of 1986 Amendment
Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see section 1433 of Pub. L. 99–514, set out as a note under section 2601 of this title.

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Bluebook (online)

26 U.S.C. § 2622, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/2622.