FEDERAL · 26 U.S.C. · Chapter Subchapter B—Computation of Taxable Income
Holders of life or terminable interest
26 U.S.C. § 273
This text of 26 U.S.C. § 273 (Holders of life or terminable 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 U.S.C. § 273.
Text
Amounts paid under the laws of a State, the District of Columbia, a possession of the United States, or a foreign country as income to the holder of a life or terminable interest acquired by gift, bequest, or inheritance shall not be reduced or diminished by any deduction for shrinkage (by whatever name called) in the value of such interest due to the lapse of time.
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Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 83; Pub. L. 94–455, title XIX, §1901(c)(2), Oct. 4, 1976, 90 Stat. 1803.)
Editorial Notes
Editorial Notes
Amendments
1976—Pub. L. 94–455 struck out reference to amounts paid under laws of a Territory.
Statutory Notes and Related Subsidiaries
Effective Date of 1976 Amendment
Amendment by Pub. L. 94–455 effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as a note under section 2 of this title.
Amendments
1976—Pub. L. 94–455 struck out reference to amounts paid under laws of a Territory.
Statutory Notes and Related Subsidiaries
Effective Date of 1976 Amendment
Amendment by Pub. L. 94–455 effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as a note under section 2 of this title.
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26 U.S.C. § 273, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/273.