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CFR › Title 26 › Chapter I › Subchapter B › Part 20 › Section 20.2053-7

26 CFR 20.2053-7 - Deduction for unpaid mortgages.

There is 1 rule appearing in the Federal Register for 26 CFR 20. Select the tab below to view, or View eCFR (GPOAccess)
§ 20.2053-7
Deduction for unpaid mortgages.
A deduction is allowed from a decedent's gross estate of the full unpaid amount of a mortgage upon, or of any other indebtedness in respect of, any property of the gross estate, including interest which had accrued thereon to the date of death, provided the value of the property, undiminished by the amount of the mortgage or indebtedness, is included in the value of the gross estate. If the decedent's estate is liable for the amount of the mortgage or indebtedness, the full value of the property subject to the mortgage or indebtedness must be included as part of the value of the gross estate; the amount of the mortgage or indebtedness being in such case allowed as a deduction. But if the decedent's estate is not so liable, only the value of the equity of redemption (or the value of the property, less the mortgage or indebtedness) need be returned as part of the value of the gross estate. In no case may the deduction on account of the mortgage or indebtedness exceed the liability therefor contracted bona fide and for an adequate and full consideration in money or money's worth. See § 20.2043-1. Only interest accrued to the date of the decedent's death is allowable even though the alternate valuation method under section 2032 is selected. In any case where real property situated outside the United States no deduction may be taken of any mortgage thereon or any other indebtedness does not form a part of the gross estate, in respect thereof.
[T.D. 6684, 28 FR 11409, Oct. 24, 1963]

Title 26 published on 2012-04-01

The following are only the Rules published in the Federal Register after the published date of Title 26.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2012-06-18; vol. 77 # 117 - Monday, June 18, 2012
    1. 77 FR 36150 - Portability of a Deceased Spousal Unused Exclusion Amount
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      DEPARTMENT OF THE TREASURY, Internal Revenue Service
      Temporary regulations.
      Effective Date. These regulations are effective on June 15, 2012. Applicability Dates: Sections of the temporary regulation relating to portability of a deceased spousal unused exclusion amount apply to estates of decedents dying on or after January 1, 2011. For specific dates of applicability, see §§ 20.2001-2T(b), 20.2010-1T(e), 20.2010-2T(e), 20.2010-3T(f), 25.2505-1T(e), and 25.2505-2T(g).
      26 CFR Parts 20, 25, and 602

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
USC: Title 26a

§ 6060

§ 6081

§ 6109

§ 6302

§ 6695

§ 7520

Title 26 published on 2012-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 26 CFR 20 after this date.

  • 2012-10-05; vol. 77 # 194 - Friday, October 5, 2012
    1. 77 FR 60960 - Portability of a Deceased Spousal Unused Exclusion Amount; Hearing Cancellation
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      DEPARTMENT OF THE TREASURY, Internal Revenue Service
      Cancellation of notice of public hearing on proposed rulemaking.
      The public hearing originally scheduled for October 18, 2012 at 10 a.m. is cancelled.
      26 CFR Parts 20 and 25