26 U.S. Code § 273 - Holders of life or terminable interest

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Amounts paid under the laws of a State, the District of Columbia, a possession of the United States, or a foreign country as income to the holder of a life or terminable interest acquired by gift, bequest, or inheritance shall not be reduced or diminished by any deduction for shrinkage (by whatever name called) in the value of such interest due to the lapse of time.


(Aug. 16, 1954, ch. 736, 68A Stat. 83; Pub. L. 94–455, title XIX, § 1901(c)(2),Oct. 4, 1976, 90 Stat. 1803.)

1976—Pub. L. 94–455struck out reference to amounts paid under laws of a Territory.
Effective Date of 1976 Amendment

Amendment by Pub. L. 94–455effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) ofPub. L. 94–455, set out as a note under section 2 of this title.


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