§1015. Basis of property acquired by gifts and transfers in trust — Inbound Citations
26 U.S.C. § 1015
Cited by 7 provisions in release 119-102.
Citations to 26 U.S.C. § 1015 as a whole
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(II) section 1015 (relating to property acquired by a gift or transfer in trust), or
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(1) In determining gain or loss from the sale or other disposition of a term interest in property, that portion of the adjusted basis of such interest which is determined pursuant to section 1014, 1015, or 1041 (to the extent that such adjusted basis is a portion of the entire adjusted basis of the property) shall be disregarded.
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(13) For purposes of section 1015, any distribution on which tax is imposed by paragraph (1)(A) shall be treated as a transfer by gift, and any tax paid under paragraph (1)(A) shall be treated as a gift tax.
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(1) Except as provided in paragraph (2), if property is transferred in a generation-skipping transfer, the basis of such property shall be increased (but not above the fair market value of such property) by an amount equal to that portion of the tax imposed by section 2601 with respect to the transfer which is attributable to the excess of the fair market value of such property over its adjusted basis immediately before the transfer. The preceding shall be applied after any basis adjustment under section 1015 with respect to the transfer.
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(3) amounts recovered by such Trust Fund under section 1015 of such Act,
Citations to §1015(a)
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(iii) a taxpayer who had title to the property at the time of the transaction and from whom, mediately or immediately, the taxpayer with respect to whom the determination is made derived title, if the basis of the property in the hands of the taxpayer with respect to whom the determination is made is determined under section 1015(a) (relating to the basis of property acquired by gift).
Citations to §1015(d)
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(1) For increase in basis of property acquired by gift for gift tax paid, see section 1015(d).