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26 U.S.C. § 2015 — Credit for death taxes on remainders
Federal law — U.S. Code and appendices · legal_authorities
Where an election is made under section 6163(a) to postpone payment of the tax imposed by section 2001, or 2101, such part of any estate, inheritance, legacy, or succession taxes allowable as a credit under section 2014, as is attributable to a reversionary or remainder interest may be allowed as a credit against the tax attributable to such interest, subject to the limitations on the amount of the credit contained in such sections, if such part is paid, and credit therefor claimed, at any time before the expiration of the time for payment of the tax imposed by section 2001 or 2101 as postponed and extended under section 6163.
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Source file: Laws/federal/codes/united-states-code/title-26/section-2015-credit-for-death-taxes-on-remainders--ec1f832e81.md
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Source location: Title 26, Chapter 11, § 2015; chapter-011-estate-tax.md
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Where an election is made under section 6163(a) to postpone payment of the tax imposed by section 2001, or 2101, such part of any estate, inheritance, legacy, or succession taxes allowable as a credit under section 2014, as is attributable to a reversionary or remainder interest may be allowed as a credit against the tax attributable to such interest, subject to the limitations on the amount of the credit contained in such sections, if such part is paid, and credit therefor claimed, at any time before the expiration of the time for payment of the tax imposed by section 2001 or 2101 as postponed and extended under section 6163.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** If a tax on a gift has been paid under chapter 12 (sec. 2501 and following), or under corresponding provisions of prior laws, and thereafter on the death of the donor any amount in respect of such gift is required to be included in the value of the gross estate of the decedent for purposes of this chapter, then there shall be credited against the tax imposed by section 2001 the amount of the tax paid on a gift under chapter 12, or under corresponding provisions of prior laws, with respect to so much of the property which constituted the gift as is included in the gross estate, except that the amount of such credit shall not exceed an amount which bears the same ratio to the tax imposed by section 2001 (after deducting from such tax the unified credit provided by section 2010) as the value (at the time of the gift or at the time of the death, whichever is lower) of so much of the property which constituted the gift as is included in the gross estate bears to the value of the entire gross estate reduced by the aggregate amount of the charitable and marital deductions allowed under sections 2055, 2056, and 2106(a)(2).
**(b) Valuation reductions** In applying, with respect to any gift, the ratio stated in subsection (a), the value at the time of the gift or at the time of the death, referred to in such ratio, shall be reduced—
(1) by such amount as will properly reflect the amount of such gift which was excluded in determining (for purposes of section 2503(a)), or of corresponding provisions of prior laws, the total amount of gifts made during the calendar quarter (or calendar year if the gift was made before January 1, 1971) in which the gift was made;
(2) if a deduction with respect to such gift is allowed under section 2056(a) (relating to marital d
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Federal law — U.S. Code and appendices · legal_authorities
Page 2574
TITLE 26—INTERNAL REVENUE CODE
§ 2015
EFFECTIVE DATE OF 1966 AMENDMENT
Amendment by Pub. L. 89–809 applicable with respect
to estates of decedents dying after Nov. 13, 1966, see sec-
tion 106(b)(4) of Pub. L. 89–809, set out as a note under
section 901 of this title.
EFFECTIVE DATE OF 1959 AMENDMENT
Amendment by Pub. L. 86–175 applicable with respect
to estates of decedents dying on or after July 1, 1955,
see section 4 of Pub. L. 86–175, set out as a note under
section 2053 of this title.
EFFECTIVE DATE OF 1958 AMENDMENT
Pub. L. 85–866, title I, § 102(d), Sept. 2, 1958, 72 Stat.
1675, provided that: ‘‘The amendments made by this
section (other than by subsection (b)) [enacting section
2208 of this title and amending this section and sections
2011 and 2053 of this title] shall apply to the estates of
decedents dying after the date of the enactment of this
Act [Sept. 2, 1958]. The amendment made by subsection
(b) [amending section 2501 of this title] shall apply to
gifts made after the date of the enactment of this Act.’’
§ 2015. Credit for death taxes on remainders
Where an election is made under section
6163(a) to postpone payment of the tax imposed
by section 2001, or 2101, such part of any estate,
inheritance, legacy, or succession taxes allow-
able as a credit under section 2014, as is attrib-
utable to a reversionary or remainder interest
may be allowed as a credit against the tax at-
tributable to such interest, subject to the limi-
tations on the amount of the credit contained in
such sections, if such part is paid, and credit
therefor claimed, at any time before the expira-
tion of the time for payment of the tax imposed
by section 2001 or 2101 as postponed and extended
under section 6163.
(Aug. 16, 1954, ch. 736, 68A Stat. 3
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