26 U.S.C. § 2519
§ 2519. Dispositions of certain life estates
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1981 by the Economic Recovery Tax Act of 1981. Last changed January 12, 1983 by the Public Law 97-448.
Every change, newest first (2)
- January 12, 1983Public Law 97-448
- August 13, 1981Economic Recovery Tax Act of 1981 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
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.
This section applies to any property if a deduction was allowed with respect to the transfer of such property to the donor—
under section 2056 by reason of subsection (b)(7) thereof, or
under section 2523 by reason of subsection (f) thereof.
For right of recovery for gift tax in the case of property treated as transferred under this section, see section 2207A(b).