26 U.S. Code § 2622 - Taxable amount in case of taxable termination
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(a) In general
For purposes of this chapter, the taxable amount in the case of a taxable termination shall be—
(1) the value of all property with respect to which the taxable termination has occurred, reduced by
(b) Deduction for certain expenses
For purposes of subsection (a), there shall be allowed a deduction similar to the deduction allowed by section 2053 (relating to expenses, indebtedness, and taxes) for amounts attributable to the property with respect to which the taxable termination has occurred.
Source(Added Pub. L. 94–455, title XX, § 2006(a),Oct. 4, 1976, 90 Stat. 1888; amended Pub. L. 99–514, title XIV, § 1431(a),Oct. 22, 1986, 100 Stat. 2720.)
1986—Pub. L. 99–514amended section generally, substituting provisions relating to taxable amount in case of a taxable termination for former provisions which authorized the Secretary to promulgate regulations. See section 2663 of this title.
Effective Date of 1986 Amendment