26 CFR 20.2053-5 - Deductions for charitable, etc., pledges or subscriptions.

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§ 20.2053-5 Deductions for charitable, etc., pledges or subscriptions.

(a) A pledge or a subscription, evidenced by a promissory note or otherwise, even though enforceable against the estate, is deductible (subject to any applicable limitations in § 20.2053-1) only to the extent that -

(1) Liability therefor was contracted bona fide and for an adequate and full consideration in cash or its equivalent, or

(2) It would have constituted an allowable deduction under section 2055 (relating to charitable, etc., deductions) if it had been a bequest.

(b) Effective/applicability date. This section applies to the estates of decedents dying on or after October 20, 2009.

[T.D. 6296, 23 FR 4529, June 24, 1958, as amended at T.D. 9468, 74 FR 53664, Oct. 20, 2009]

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United States Code

Title 26 published on 2015-04-01

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

  • 2015-10-23; vol. 80 # 205 - Friday, October 23, 2015
    1. 80 FR 64378 - Definition of Terms Relating to Marital Status
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Internal Revenue Service
      Notice of proposed rulemaking.
      Written or electronic comments and requests for a public hearing must be received by December 7, 2015.
      26 CFR Parts 1, 20, 25, 26, 31, and 301