26 U.S. Code § 2519 - Dispositions of certain life estates
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(a) General rule
For purposes of this chapter and chapter 11, any disposition of all or part of a qualifying income interest for life in any property to which this section applies shall be treated as a transfer of all interests in such property other than the qualifying income interest.
(b) Property to which this subsection applies
This section applies to any property if a deduction was allowed with respect to the transfer of such property to the donor—
(1) under section 2056 by reason of subsection (b)(7) thereof, or
(2) under section 2523 by reason of subsection (f) thereof.
Source(Added Pub. L. 97–34, title IV, § 403(d)(3)(B)(i),Aug. 13, 1981, 95 Stat. 304; amended Pub. L. 97–448, title I, § 104(a)(3), (7),Jan. 12, 1983, 96 Stat. 2380, 2381.)
1983—Pub. L. 97–448, § 104(a)(3)(B), amended directory language of Pub. L. 97–34, § 403(d)(3)(B)(i), to clarify that this section be inserted at end of subchapter B of chapter 12, rather than at end of subchapter B of chapter 11, and did not involve any change in text.
Subsec. (a). Pub. L. 97–448, § 104(a)(3)(A), substituted “For purposes of this chapter and chapter 11, any disposition” for “Any disposition” and “treated as a transfer of all interests in such property other than the qualifying income interest” for “treated as a transfer of such property”.
Subsec. (c). Pub. L. 97–448, § 104(a)(7), added subsec. (c).
Effective Date of 1983 Amendment
Amendment by Pub. L. 97–448effective, 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 ofPub. L. 97–448, set out as a note under section 1 of this title.
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