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

submitted 50 years ago by Pub. L. 94-455 to r/title-26-INTERNAL-REVENUE-CODE · 89 words · no verdicts yet

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the actual law source: uscode.house.gov ↗public domain

(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: (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.)

history & why it existsrecord from the source credit

1976Enacted · Pub. L. 94-455 · 90 Stat. 1888
1986Amended · Pub. L. 99-514 · 100 Stat. 2720

A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-455 on 1976-10-04.

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