FEDERAL · 26 U.S.C. · Chapter Subchapter J—Estates, Trusts, Beneficiaries, and Decedents
Use of trust as an exchange fund
26 U.S.C. § 683
Title26 — Internal Revenue Code
ChapterSubchapter J—Estates, Trusts, Beneficiaries, and Decedents
PartSubpart F—Miscellaneous
This text of 26 U.S.C. § 683 (Use of trust as an exchange fund) 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. § 683.
Text
(a)General rule
Except as provided in subsection (b), if property is transferred to a trust in exchange for an interest in other trust property and if the trust would be an investment company (within the meaning of section 351) if it were a corporation, then gain shall be recognized to the transferor.
(b)Exception for pooled income funds
Subsection (a) shall not apply to any transfer to a pooled income fund (within the meaning of section 642(c)(5)).
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Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 235; Pub. L. 94–455, title XXI, §2131(e)(1), Oct. 4, 1976, 90 Stat. 1924.)
Editorial Notes
Editorial Notes
Amendments
1976—Pub. L. 94–455 substituted provisions relating to use of trust as an exchange fund for provisions setting forth rule that this part applies only to taxable years beginning after Dec. 31, 1953, and ending after the date of the enactment of this title and exceptions thereto.
Statutory Notes and Related Subsidiaries
Effective Date of 1976 Amendment
Amendment of section by Pub. L. 94–455 effective on Apr. 8, 1976, in taxable years ending on or after such date, see section 2131(f)(6) of Pub. L. 94–455, set out as a note under section 584 of this title.
Amendments
1976—Pub. L. 94–455 substituted provisions relating to use of trust as an exchange fund for provisions setting forth rule that this part applies only to taxable years beginning after Dec. 31, 1953, and ending after the date of the enactment of this title and exceptions thereto.
Statutory Notes and Related Subsidiaries
Effective Date of 1976 Amendment
Amendment of section by Pub. L. 94–455 effective on Apr. 8, 1976, in taxable years ending on or after such date, see section 2131(f)(6) of Pub. L. 94–455, set out as a note under section 584 of this title.
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Bluebook (online)
26 U.S.C. § 683, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/683.