26 U.S.C. § 273

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 273 - Holders of life or terminable interest

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.

26 U.S.C. § 273

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

AMENDMENTS1976- 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.

State

The term "State" shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title.