Source: https://uscode.house.gov/view.xhtml?req=granuleid%3AUSC-prelim-title26-chapter1-subchapterJ-part1-subpartF&saved=%7CZ3JhbnVsZWlkOlVTQy1wcmVsaW0tdGl0bGUyNi1zZWN0aW9uNjgx%7C%7C%7C0%7Cfalse%7Cprelim&edition=prelim
Timestamp: 2020-07-13 08:07:59
Document Index: 287001252

Matched Legal Cases: ['§11051', '§682', '§11051', '§422', '§683', '§685', '§1309', '§6013', '§9', '§6013', '§6013', '§9', '§1309']

[USC02] 26 USC Subtitle A, CHAPTER 1, Subchapter J, PART I, Subpart F: Miscellaneous
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26 USC Subtitle A, CHAPTER 1, Subchapter J, PART I, Subpart F: Miscellaneous
Limitation on charitable deduction.
Use of trust as an exchange fund.
Recognition of gain on certain transfers to certain foreign trusts and estates.
Treatment of funeral trusts.
2017—Pub. L. 115–97, title I, §11051(b)(1)(C), Dec. 22, 2017, 131 Stat. 2089, struck out item 682 "Income of an estate or trust in case of divorce, etc."
[§682. Repealed. Pub. L. 115–97, title I, §11051(b)(1)(C), Dec. 22, 2017, 131 Stat. 2089]
Section, Aug. 16, 1954, ch. 736, 68A Stat. 234; Pub. L. 98–369, div. A, title IV, §422(d)(2), July 18, 1984, 98 Stat. 798, related to income of an estate or trust in case of divorce.
Repeal applicable to any divorce or separation instrument (as defined in former section 71(b)(2) of this title as in effect before Dec. 22, 2017) executed after Dec. 31, 2018, and to such instruments executed on or before Dec. 31, 2018, and modified after Dec. 31, 2018, if the modification expressly provides that the amendment made by section 11051 of Pub. L. 115–97 applies to such modification, see section 11051(c) of Pub. L. 115–97, set out as an Effective Date of 2017 Amendment note under section 61 of this title.
§683. Use of trust as an exchange fund
§685. Treatment of funeral trusts
In the case of a qualified funeral trust—
(1) subparts B, C, D, and E shall not apply, and
(2) no deduction shall be allowed by section 642(b).
(b) Qualified funeral trust
For purposes of this subsection, the term "qualified funeral trust" means any trust (other than a foreign trust) if—
(1) the trust arises as a result of a contract with a person engaged in the trade or business of providing funeral or burial services or property necessary to provide such services,
(2) the sole purpose of the trust is to hold, invest, and reinvest funds in the trust and to use such funds solely to make payments for such services or property for the benefit of the beneficiaries of the trust,
(3) the only beneficiaries of such trust are individuals with respect to whom such services or property are to be provided at their death under contracts described in paragraph (1),
(4) the only contributions to the trust are contributions by or for the benefit of such beneficiaries,
(5) the trustee elects the application of this subsection, and
(6) the trust would (but for the election described in paragraph (5)) be treated as owned under subpart E by the purchasers of the contracts described in paragraph (1).
(c) Application of rate schedule
(d) Treatment of amounts refunded to purchaser on cancellation
(e) Simplified reporting
(Added Pub. L. 105–34, title XIII, §1309(a), Aug. 5, 1997, 111 Stat. 1042; amended Pub. L. 105–206, title VI, §6013(b), July 22, 1998, 112 Stat. 820; Pub. L. 110–317, §9(a), (b), Aug. 29, 2008, 122 Stat. 3530.)
2008—Subsecs. (c) to (f). Pub. L. 110–317 redesignated subsecs. (d) to (f) as (c) to (e), respectively, and struck out former subsec. (c), which related to dollar limitation on contributions to qualified funeral trusts.
1998—Subsec. (b). Pub. L. 105–206, §6013(b)(1), inserted concluding provisions.
Subsec. (f). Pub. L. 105–206, §6013(b)(2), inserted "and of trusts terminated during the year" before period at end.
Pub. L. 110–317, §9(c), Aug. 29, 2008, 122 Stat. 3530, provided that: "The amendments made by this section [amending this section] shall apply to taxable years beginning after the date of the enactment of this Act [Aug. 29, 2008]."
Pub. L. 105–34, title XIII, §1309(c), Aug. 5, 1997, 111 Stat. 1043, provided that: "The amendments made by this section [enacting this section] shall apply to taxable years ending after the date of the enactment of this Act [Aug. 5, 1997]."