Source: https://uscode.house.gov/view.xhtml?req=(title:26%20section:641%20edition:prelim)
Timestamp: 2020-08-07 22:14:11
Document Index: 639497583

Matched Legal Cases: ['§ 641', '§803', '§701', '§101', '§1302', '§1601', '§6007', '§8236', '§13542', '§13542', '§8236', '§1317', '§1301']

[USC02] 26 USC 641: Imposition of tax
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26 USC 641: Imposition of tax Text contains those laws in effect on August 6, 2020
The tax imposed by section 1(e) shall apply to the taxable income of estates or of any kind of property held in trust, including-
(E)(i) Section 642(c) shall not apply.
(ii) For purposes of section 170(b)(1)(G), adjusted gross income shall be computed in the same manner as in the case of an individual, except that the deductions for costs which are paid or incurred in connection with the administration of the trust and which would not have been incurred if the property were not held in such trust shall be treated as allowable in arriving at adjusted gross income.
For purposes of determining-
(Aug. 16, 1954, ch. 736, 68A Stat. 215 ; Pub. L. 91–172, title VIII, §803(d)(3), Dec. 30, 1969, 83 Stat. 684 ; Pub. L. 94–455, title VII, §701(e)(2), Oct. 4, 1976, 90 Stat. 1579 ; Pub. L. 95–30, title I, §101(d)(8), May 23, 1977, 91 Stat. 134 ; Pub. L. 104–188, title I, §1302(d), Aug. 20, 1996, 110 Stat. 1778 ; Pub. L. 105–34, title XVI, §1601(i)(3)(B), Aug. 5, 1997, 111 Stat. 1093 ; Pub. L. 105–206, title VI, §6007(f)(2), July 22, 1998, 112 Stat. 810 ; Pub. L. 110–28, title VIII, §8236(a), May 25, 2007, 121 Stat. 199 ; Pub. L. 115–97, title I, §13542(a), Dec. 22, 2017, 131 Stat. 2154 .)
2017-Subsec. (c)(2)(E). Pub. L. 115–97 added subpar. (E).
2007-Subsec. (c)(2)(C)(iv). Pub. L. 110–28 added cl. (iv).
1998-Subsecs. (c), (d). Pub. L. 105–206 redesignated subsec. (d) as (c) and struck out heading and text of former subsec. (c). Text read as follows:
"(1) General rule.-For purposes of this part, the taxable income of a trust does not include the amount of any includible gain as defined in section 644(b) reduced by any deductions properly allocable thereto.
1997-Subsec. (b). Pub. L. 105–34 inserted at end "For purposes of this subsection, a foreign trust or foreign estate shall be treated as a nonresident alien individual who is not present in the United States at any time."
1977-Subsec. (a). Pub. L. 95–30 substituted "section 1(e)" for "section 1(d)" in introductory provisions.
1969-Subsec. (a). Pub. L. 91–172 substituted "The tax imposed by section 1(d)" for "The taxes imposed by this chapter on individuals".
Pub. L. 115–97, title I, §13542(b), Dec. 22, 2017, 131 Stat. 2154 , provided that: "The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 2017."
Pub. L. 110–28, title VIII, §8236(b), May 25, 2007, 121 Stat. 199 , provided that: "The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 2006."
Pub. L. 104–188, title I, §1317(a), Aug. 20, 1996, 110 Stat. 1787 , provided that: "Except as otherwise provided in this subtitle [subtitle C (§§1301–1317) of title I of Pub. L. 104–188], the amendments made by this subtitle [amending this section and sections 170, 404, 512, 1042, 1237, 1361, 1362, 1366 to 1368, 1371, 1375, 1377, 1504, 6037, and 6233 of this title and repealing sections 6241 to 6245 of this title] shall apply to taxable years beginning after December 31, 1996."