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26 U.S.C. § 2043 (INTERNAL REVENUE CODE)
§ 2043. Transfers for insufficient consideration
(a) In general
If any one of the transfers, trusts, interests, rights, or powers enumerated and described in sections 2035 to 2038, inclusive, and section 2041 is made, created, exercised, or relinquished for a consideration in money or money’s worth, but is not a bona fide sale for an adequate and full consideration in money or money’s worth, there shall be included in the gross estate only the excess of the fair market value at the time of death of the property otherwise to be included on account of such transaction, over the value of the consideration received therefor by the decedent.
(b) Marital rights not treated as consideration
(1) In general
For purposes of this chapter, a relinquishment or promised relinquishment of dower or curtesy, or of a statutory estate created in lieu of dower or curtesy, or of other marital rights in the decedent’s property or estate, shall not be considered to any extent a consideration “in money or money’s worth”.
(2) Exception
For purposes of section 2053 (relating to expenses, indebtedness, and taxes), a transfer of property which satisfies the requirements of paragraph (1) of section 2516 (relating to certain property settlements) shall be considered to be made for an adequate and full consideration in money or money’s worth.
(Aug. 16, 1954, ch. 736, 68A Stat. 388; Pub. L. 98–369, div. A, title IV, § 425(a)(1), July 18, 1984, 98 Stat. 803.)
heading: Amendments
text: 1984—Subsec. (b). Pub. L. 98–369 amended subsec. (b) generally, designating existing provisions as par. (1) and adding par. (2).
heading: Effective Date of 1984 Amendment
text: Pub. L. 98–369, div. A, title IV, § 425(c)(1), July 18, 1984, 98 Stat. 804, provided that: “The amendments made by subsection (a) [amending this section and section 2053 of this title] shall apply to estates of decedents dying after the date of the enactment of this Act [July 18, 1984].”
26 U.S.C. § 2044 (INTERNAL REVENUE CODE)
§ 2044. Certain property for which marital deduction was previously allowed
(a) General rule
The value of the gross estate shall include the value of any property to which this section applies in which the decedent had a qualifying income interest for life.
(b) Property to which this section applies
This section applies to any property if—
(1) a deduction was allowed with respect to the transfer of such property to the decedent—
(A) under section 2056 by reason of subsection (b)(7) thereof, or
(B) under section 2523 by reason of subsection (f) thereof, and
(2) section 2519 (relating to dispositions of certain life estates) did not apply with respect to a disposition by the decedent of part or all of such property.
(c) Property treated as having passed from decedent
For purposes of this chapter and chapter 13, property includible in the gross estate of the decedent under subsection (a) shall be treated as property passing from the decedent.
(Added Pub. L. 97–34, title IV, § 403(d)(3)(A)(i), Aug. 13, 1981, 95 Stat. 304; amended Pub. L. 97–448, title I, § 104(a)(1)(B), Jan. 12, 1983, 96 Stat. 2380.)
heading: Prior Provisions
text: A prior section 2044 was renumbered section 2045 of this title.
heading: Amendments
text: 1983—Subsec. (c). Pub. L. 97–448 added subsec. (c).
heading: Effective Date of 1983 Amendment
text: Amendment by Pub. L. 97–448 effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, Pub. L. 97–34, to which such amendment relates, see section 109 of Pub. L. 97–448, set out as a note under section 1 of this title.
heading: Effective Date
text: Section applicable to estates of decedents dying after Dec. 31, 1981, see section 403(e) of Pub. L. 97–34, set out as an Effective Date of 1981 Amendment note under section 2056 of this title.
26 U.S.C. § 2045 (INTERNAL REVENUE CODE)
§ 2045. Prior interests
Except as otherwise specifically provided by law, sections 2034 to 2042, inclusive, shall apply to the transfers, trusts, estates, interests, rights, powers, and relinquishment of powers, as severally enumerated and described therein, whenever made, created, arising, existing, exercised, or relinquished.
(Aug. 16, 1954, ch. 736, 68A Stat. 388, § 2044; Pub. L. 94–455, title XX, § 2001(c)(1)(M), Oct. 4, 1976, 90 Stat. 1853; renumbered § 2045, Pub. L. 97–34, title IV, § 403(d)(3)(A)(i), Aug. 13, 1981, 95 Stat. 304.)
heading: Prior Provisions
text: A prior section 2045 was renumbered section 2046 of this title.
heading: Amendments
text: 1976—Pub. L. 94–455 substituted “specifically provided by law” for “specifically provided therein”.
heading: Effective Date of 1976 Amendment
text: Amendment by Pub. L. 94–455 applicable to estates of decedents dying after Dec. 31, 1976, see section 2001(d) of Pub. L. 94–455, set out as a note under section 2001 of this title.
26 U.S.C. § 2046 (INTERNAL REVENUE CODE)
§ 2046. Disclaimers
For provisions relating to the effect of a qualified disclaimer for purposes of this chapter, see section 2518.
(Added Pub. L. 94–455, title XX, § 2009(b)(2), Oct. 4, 1976, 90 Stat. 1893, § 2045; renumbered § 2046, Pub. L. 97–34, title IV, § 403(d)(3)(A)(i), Aug. 13, 1981, 95 Stat. 304.)
heading: Effective Date
text: Section applicable to transfers creating an interest in person disclaiming made after Dec. 31, 1976, see section 2009(e)(2) of Pub. L. 94–455, set out as a note under section 2518 of this title.
26 U.S.C. § 2051 (INTERNAL REVENUE CODE)
§ 2051. Definition of taxable estate
For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate the deductions provided for in this part.
(Aug. 16, 1954, ch. 736, 68A Stat. 388; Pub. L. 95–600, title VII, § 702(r)(2), Nov. 6, 1978, 92 Stat. 2938.)
heading: Amendments
text: 1978—Pub. L. 95–600 struck out “exemption and” after “gross estate the”.
heading: Effective Date of 1978 Amendment
text: Pub. L. 95–600, title VII, § 702(r)(5), Nov. 6, 1978, 92 Stat. 2939, provided that: “The amendments made by this subsection [amending this section and sections 1016, 6324B, and 6698A of this title] shall apply to estates of decedents dying after December 31, 1976.”
26 U.S.C. § 2052 (INTERNAL REVENUE CODE)
[§ 2052. Repealed. Pub. L. 94–455, title XX, § 2001(a)(4), Oct. 4, 1976, 90 Stat. 1848]
text: Section, act Aug. 16, 1954, ch. 736, 68A Stat. 389, provided for an exemption of $60,000 to be deducted from gross estate in determining value of taxable estate.
heading: Effective Date of Repeal
text: Repeal applicable to estates of decedents dying after Dec. 31, 1976, see section 2001(d)(1) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 2001 of this title.
26 U.S.C. § 2054 (INTERNAL REVENUE CODE)
§ 2054. Losses
For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate losses incurred during the settlement of estates arising from fires, storms, shipwrecks, or other casualties, or from theft, when such losses are not compensated for by insurance or otherwise.
(Aug. 16, 1954, ch. 736, 68A Stat. 390.)
26 U.S.C. § 2058 (INTERNAL REVENUE CODE)
§ 2058. State death taxes
(a) Allowance of deduction
For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate the amount of any estate, inheritance, legacy, or succession taxes actually paid to any State or the District of Columbia, in respect of any property included in the gross estate (not including any such taxes paid with respect to the estate of a person other than the decedent).
(b) Period of limitations
The deduction allowed by this section shall include only such taxes as were actually paid and deduction therefor claimed before the later of—
(1) 4 years after the filing of the return required by section 6018, or
(2) if—
(A) a petition for redetermination of a deficiency has been filed with the Tax Court within the time prescribed in section 6213(a), the expiration of 60 days after the decision of the Tax Court becomes final,
(B) an extension of time has been granted under section 6161 or 6166 for payment of the tax shown on the return, or of a deficiency, the date of the expiration of the period of the extension, or
(C) a claim for refund or credit of an overpayment of tax imposed by this chapter has been filed within the time prescribed in section 6511, the latest of the expiration of—
(i) 60 days from the date of mailing by certified mail or registered mail by the Secretary to the taxpayer of a notice of the disallowance of any part of such claim,
(ii) 60 days after a decision by any court of competent jurisdiction becomes final with respect to a timely suit instituted upon such claim, or
(iii) 2 years after a notice of the waiver of disallowance is filed under section 6532(a)(3).
Notwithstanding sections 6511 and 6512, refund based on the deduction may be made if the claim for refund is filed within the period provided in the preceding sentence. Any such refund shall be made without interest.
(Added Pub. L. 107–16, title V, § 532(b), June 7, 2001, 115 Stat. 73.)
heading: Effective Date
text: Section applicable to estates of decedents dying, and generation-skipping transfers, after Dec. 31, 2004, see section 532(d) of Pub. L. 107–16, set out as an Effective Date of 2001 Amendment note under section 2011 of this title.
26 U.S.C. § 2103 (INTERNAL REVENUE CODE)
§ 2103. Definition of gross estate
For the purpose of the tax imposed by section 2101, the value of the gross estate of every decedent nonresident not a citizen of the United States shall be that part of his gross estate (determined as provided in section 2031) which at the time of his death is situated in the United States.
(Aug. 16, 1954, ch. 736, 68A Stat. 397.)
26 U.S.C. § 2202 (INTERNAL REVENUE CODE)
[§ 2202. Repealed. Pub. L. 94–455, title XIX, § 1902(a)(8), Oct. 4, 1976, 90 Stat. 1805]
text: Section, acts Aug. 16, 1954, ch. 736, 68A Stat. 401; June 25, 1959, Pub. L. 86–70, § 22(a), 73 Stat. 146; July 12, 1960, Pub. L. 86–624, § 18(b), 74 Stat. 416, related to the presumption that missionaries duly commissioned and serving under boards of foreign missions are residents of the State or the District of Columbia wherein they resided at the time of their commission and departure for service.
heading: Effective Date of Repeal
text: Repeal applicable to estates of decedents dying after Oct. 4, 1976, see section 1902(c)(1) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 2011 of this title.
26 U.S.C. § 2203 (INTERNAL REVENUE CODE)
§ 2203. Definition of executor
The term “executor” wherever it is used in this title in connection with the estate tax imposed by this chapter means the executor or administrator of the decedent, or, if there is no executor or administrator appointed, qualified, and acting within the United States, then any person in actual or constructive possession of any property of the decedent.
(Aug. 16, 1954, ch. 736, 68A Stat. 401.)
26 U.S.C. § 2205 (INTERNAL REVENUE CODE)
§ 2205. Reimbursement out of estate
If the tax or any part thereof is paid by, or collected out of, that part of the estate passing to or in the possession of any person other than the executor in his capacity as such, such person shall be entitled to reimbursement out of any part of the estate still undistributed or by a just and equitable contribution by the persons whose interest in the estate of the decedent would have been reduced if the tax had been paid before the distribution of the estate or whose interest is subject to equal or prior liability for the payment of taxes, debts, or other charges against the estate, it being the purpose and intent of this chapter that so far as is practicable and unless otherwise directed by the will of the decedent the tax shall be paid out of the estate before its distribution.
(Aug. 16, 1954, ch. 736, 68A Stat. 402.)
26 U.S.C. § 2206 (INTERNAL REVENUE CODE)
§ 2206. Liability of life insurance beneficiaries
Unless the decedent directs otherwise in his will, if any part of the gross estate on which tax has been paid consists of proceeds of policies of insurance on the life of the decedent receivable by a beneficiary other than the executor, the executor shall be entitled to recover from such beneficiary such portion of the total tax paid as the proceeds of such policies bear to the taxable estate. If there is more than one such beneficiary, the executor shall be entitled to recover from such beneficiaries in the same ratio. In the case of such proceeds receivable by the surviving spouse of the decedent for which a deduction is allowed under section 2056 (relating to marital deduction), this section shall not apply to such proceeds except as to the amount thereof in excess of the aggregate amount of the marital deductions allowed under such section.
(Aug. 16, 1954, ch. 736, 68A Stat. 402; Pub. L. 94–455, title XX, § 2001(c)(1)(H), Oct. 4, 1976, 90 Stat. 1852.)
heading: Amendments
text: 1976—Pub. L. 94–455 substituted “the taxable estate” for “the sum of the taxable estate and the amount of the exemption allowed in computing the taxable estate, determined under section 2051” after “policies bear to”.
heading: Effective Date of 1976 Amendment
text: Amendment by Pub. L. 94–455 applicable to estates of decedents dying after Dec. 31, 1976, see section 2001(d)(1) of Pub. L. 94–455, set out as a note under section 2001 of this title.
26 U.S.C. § 2207 (INTERNAL REVENUE CODE)
§ 2207. Liability of recipient of property over which decedent had power of appointment
Unless the decedent directs otherwise in his will, if any part of the gross estate on which the tax has been paid consists of the value of property included in the gross estate under section 2041, the executor shall be entitled to recover from the person receiving such property by reason of the exercise, nonexercise, or release of a power of appointment such portion of the total tax paid as the value of such property bears to the taxable estate. If there is more than one such person, the executor shall be entitled to recover from such persons in the same ratio. In the case of such property received by the surviving spouse of the decedent for which a deduction is allowed under section 2056 (relating to marital deduction), this section shall not apply to such property except as to the value thereof reduced by an amount equal to the excess of the aggregate amount of the marital deductions allowed under section 2056 over the amount of proceeds of insurance upon the life of the decedent receivable by the surviving spouse for which proceeds a marital deduction is allowed under such section.
(Aug. 16, 1954, ch. 736, 68A Stat. 402; Pub. L. 94–455, title XX, § 2001(c)(1)(I), Oct. 4, 1976, 90 Stat. 1852.)
heading: Amendments
text: 1976—Pub. L. 94–455 substituted “the taxable estate” for “the sum of the taxable estate and the amount of the exemption allowed in computing the taxable estate, determined under section 2052, or section 2106(a), as the case may be” after “property bears to”.
heading: Effective Date of 1976 Amendment
text: Amendment by Pub. L. 94–455 applicable to estates of decedents dying after Dec. 31, 1976, see section 2001(d)(1) of Pub. L. 94–455, set out as a note under section 2001 of this title.
26 U.S.C. § 2207A (INTERNAL REVENUE CODE)
§ 2207A. Right of recovery in the case of certain marital deduction property
(a) Recovery with respect to estate tax
(1) In general
If any part of the gross estate consists of property the value of which is includible in the gross estate by reason of section 2044 (relating to certain property for which marital deduction was previously allowed), the decedent’s estate shall be entitled to recover from the person receiving the property the amount by which—
(A) the total tax under this chapter which has been paid, exceeds
(B) the total tax under this chapter which would have been payable if the value of such property had not been included in the gross estate.
(2) Decedent may otherwise direct
Paragraph (1) shall not apply with respect to any property to the extent that the decedent in his will (or a revocable trust) specifically indicates an intent to waive any right of recovery under this subchapter with respect to such property.
(b) Recovery with respect to gift tax
If for any calendar year tax is paid under chapter 12 with respect to any person by reason of property treated as transferred by such person under section 2519, such person shall be entitled to recover from the person receiving the property the amount by which—
(1) the total tax for such year under chapter 12, exceeds
(2) the total tax which would have been payable under such chapter for such year if the value of such property had not been taken into account for purposes of chapter 12.
(c) More than one recipient of property
For purposes of this section, if there is more than one person receiving the property, the right of recovery shall be against each such person.
(d) Taxes and interest
In the case of penalties and interest attributable to additional taxes described in subsections (a) and (b), rules similar to subsections (a), (b), and (c) shall apply.
(Added Pub. L. 97–34, title IV, § 403(d)(4)(A), Aug. 13, 1981, 95 Stat. 304; amended Pub. L. 105–34, title XIII, § 1302(a), Aug. 5, 1997, 111 Stat. 1039.)
heading: Amendments
text: 1997—Subsec. (a)(2). Pub. L. 105–34 amended heading and text of par. (2) generally. Prior to amendment, text read as follows: “Paragraph (1) shall not apply if the decedent otherwise directs by will.”
heading: Effective Date of 1997 Amendment
text: Pub. L. 105–34, title XIII, § 1302(c), Aug. 5, 1997, 111 Stat. 1039, provided that: “The amendments made by this section [amending this section and section 2207B of this title] shall apply with respect to the estates of decedents dying after the date of the enactment of this Act [Aug. 5, 1997].”
heading: Effective Date
text: Section applicable to estates of decedents dying after Dec. 31, 1981, see section 403(e) of Pub. L. 97–34, set out as an Effective Date of 1981 Amendment note under section 2056 of this title.
26 U.S.C. § 2208 (INTERNAL REVENUE CODE)
§ 2208. Certain residents of possessions considered citizens of the United States
A decedent who was a citizen of the United States and a resident of a possession thereof at the time of his death shall, for purposes of the tax imposed by this chapter, be considered a “citizen” of the United States within the meaning of that term wherever used in this title unless he acquired his United States citizenship solely by reason of (1) his being a citizen of such possession of the United States, or (2) his birth or residence within such possession of the United States.
(Added Pub. L. 85–866, title I, § 102(a), Sept. 2, 1958, 72 Stat. 1674.)
heading: Effective Date
text: Section applicable to estates of decedents dying after Sept. 2, 1958, see section 102(d) of Pub. L. 85–866, set out as an Effective Date of 1958 Amendment note under section 2011 of this title.
26 U.S.C. § 2209 (INTERNAL REVENUE CODE)
§ 2209. Certain residents of possessions considered nonresidents not citizens of the United States
A decedent who was a citizen of the United States and a resident of a possession thereof at the time of his death shall, for purposes of the tax imposed by this chapter, be considered a “nonresident not a citizen of the United States” within the meaning of that term wherever used in this title, but only if such person acquired his United States citizenship solely by reason of (1) his being a citizen of such possession of the United States, or (2) his birth or residence within such possession of the United States.
(Added Pub. L. 86–779, § 4(b)(1), Sept. 14, 1960, 74 Stat. 999.)
heading: Effective Date
text: Section applicable with respect to estates of decedents dying after Sept. 14, 1960, see section 4(e)(2) of Pub. L. 86–779, set out as an Effective Date of 1960 Amendment note under section 2106 of this title.
26 U.S.C. § 2210 (INTERNAL REVENUE CODE)
[§ 2210. Repealed. Pub. L. 111–312, title III, § 301(a), Dec. 17, 2010, 124 Stat. 3300]
text: Section, added Pub. L. 107–16, title V, § 501(a), June 7, 2001, 115 Stat. 69, related to termination of applicability of chapter to estates of decedents dying after Dec. 31, 2009.
heading: Prior Provisions
text: A prior section 2210, added Pub. L. 98–369, div. A, title V, § 544(a), July 18, 1984, 98 Stat. 892; amended Pub. L. 99–514, title XVIII, §§ 1854(d)(1)(A), (2)–(6), 1899A(37), Oct. 22, 1986, 100 Stat. 2879, 2880, 2960, related to liability for payment in case of transfer of employer securities to an employee stock ownership plan or a worker-owned cooperative, prior to repeal by Pub. L. 101–239, title VII, § 7304(b)(1), (3), Dec. 19, 1989, 103 Stat. 2353, applicable to estates of decedents dying after July 12, 1989.
heading: Effective Date of Repeal
text: Repeal of section applicable to estates of decedents dying, and transfers made after Dec. 31, 2009, except as otherwise provided, see section 301(e) of Pub. L. 111–312, set out as an Effective and Termination Dates of 2010 Amendment note under section 121 of this title.
26 U.S.C. § 2512 (INTERNAL REVENUE CODE)
§ 2512. Valuation of gifts
(a) If the gift is made in property, the value thereof at the date of the gift shall be considered the amount of the gift.
(b) Where property is transferred for less than an adequate and full consideration in money or money’s worth, then the amount by which the value of the property exceeded the value of the consideration shall be deemed a gift, and shall be included in computing the amount of gifts made during the calendar year.
(c) Cross reference
For individual’s right to be furnished on request a statement regarding any valuation made by the Secretary of a gift by that individual, see section 7517.
(Aug. 16, 1954, ch. 736, 68A Stat. 406; Pub. L. 91–614, title I, § 102(b)(1), Dec. 31, 1970, 84 Stat. 1840; Pub. L. 94–455, title XX, § 2008(a)(2)(B), Oct. 4, 1976, 90 Stat. 1891; Pub. L. 97–34, title IV, § 442(b)(1), Aug. 13, 1981, 95 Stat. 322.)
heading: Amendments
text: 1981—Subsec. (b). Pub. L. 97–34 substituted “calendar year” for “calendar quarters”.
1976—Subsec. (c). Pub. L. 94–455 added subsec. (c).
1970—Subsec. (b). Pub. L. 91–614 substituted “calendar quarter” for “calendar year”.
heading: Effective Date of 1981 Amendment
text: Amendment by Pub. L. 97–34 applicable with respect to gifts made after Dec. 31, 1981, see section 442(e) of Pub. L. 97–34, set out as a note under section 2501 of this title.
heading: Effective Date of 1970 Amendment
text: Amendment by Pub. L. 91–614 applicable with respect to gifts made after Dec. 31, 1970, see section 102(e) of Pub. L. 91–614, set out as a note under section 2501 of this title.
26 U.S.C. § 2515 (INTERNAL REVENUE CODE)
§ 2515. Treatment of generation-skipping transfer tax
In the case of any taxable gift which is a direct skip (within the meaning of chapter 13), the amount of such gift shall be increased by the amount of any tax imposed on the transferor under chapter 13 with respect to such gift.
(Added Pub. L. 99–514, title XIV, § 1432(d)(1), Oct. 22, 1986, 100 Stat. 2730.)
heading: Prior Provisions
text: A prior section, acts Aug. 16, 1954, ch. 736, 68A Stat. 409; Dec. 31, 1970, Pub. L. 91–614, title I, § 102(b)(3), 84 Stat. 1841; Oct. 4, 1976, Pub. L. 94–455, title XX, § 2002(c)(2), 90 Stat. 1855; Nov. 6, 1978, Pub. L. 95–600, title VII, § 702(k)(1)(B), 92 Stat. 2932, related to tenancies by the entirety in real property, prior to repeal applicable to gifts made after Dec. 31, 1981, by Pub. L. 97–34, title IV, § 403(c)(3)(B), (e)(2), Aug. 13, 1981, 95 Stat. 302, 305.
heading: Effective Date
text: Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see section 1433 of Pub. L. 99–514, set out as a note under section 2601 of this title.