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26 U.S.C. § 2612 — Taxable termination; taxable distribution; direct skip
Federal law — U.S. Code and appendices · legal_authorities
**(a) Taxable termination**
(1) **General rule** — For purposes of this chapter, the term “taxable termination” means the termination (by death, lapse of time, release of power, or otherwise) of an interest in property held in a trust unless—
(A) immediately after such termination, a non-skip person has an interest in such property, or
(B) at no time after such termination may a distribution (including distributions on termination) be made from such trust to a skip person.
(2) **Certain partial terminations treated as taxable** — If, upon the termination of an interest in property held in trust by reason of the death of a lineal descendant of the transferor, a specified portion of the trust’s assets are distributed to 1 or more skip persons (or 1 or more trusts for the exclusive benefit of such persons), such termination shall constitute a taxable termination with respect to such portion of the trust property.
**(b) Taxable distribution** For purposes of this chapter, the term “taxable distribution” means any distribution from a trust to a skip person (other than a taxable termination or a direct skip).
**(c) Direct skip** For purposes of this chapter—
(1) **In general** — The term “direct skip” means a transfer subject to a tax imposed by chapter 11 or 12 of an interest in property to a skip person.
(2) **Look-thru rules not to apply** — Solely for purposes of determining whether any transfer to a trust is a direct skip, the rules of section 2651(f)(2) shall not apply.
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Source file: Laws/federal/codes/united-states-code/title-26/section-2612-taxable-termination-taxable-distribution-direct-skip--1b4c09e368.md
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Source location: Title 26, Chapter 13, § 2612; chapter-013-tax-on-generation-skipping-transfers.md
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**(a) Taxable termination**
(1) **General rule** — For purposes of this chapter, the term “taxable termination” means the termination (by death, lapse of time, release of power, or otherwise) of an interest in property held in a trust unless—
(A) immediately after such termination, a non-skip person has an interest in such property, or
(B) at no time after such termination may a distribution (including distributions on termination) be made from such trust to a skip person.
(2) **Certain partial terminations treated as taxable** — If, upon the termination of an interest in property held in trust by reason of the death of a lineal descendant of the transferor, a specified portion of the trust’s assets are distributed to 1 or more skip persons (or 1 or more trusts for the exclusive benefit of such persons), such termination shall constitute a taxable termination with respect to such portion of the trust property.
**(b) Taxable distribution** For purposes of this chapter, the term “taxable distribution” means any distribution from a trust to a skip person (other than a taxable termination or a direct skip).
**(c) Direct skip** For purposes of this chapter—
(1) **In general** — The term “direct skip” means a transfer subject to a tax imposed by chapter 11 or 12 of an interest in property to a skip person.
(2) **Look-thru rules not to apply** — Solely for purposes of determining whether any transfer to a trust is a direct skip, the rules of section 2651(f)(2) shall not apply.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of—
(1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and
(2) every surviving spouse (as defined in section 2(a)),
a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000.
**(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000.
**(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** For purposes of this chapter, the generation to which any person (other than the transferor) belongs shall be determined in accordance with the rules set forth in this section.
**(b) Lineal descendants**
(1) **In general** — An individual who is a lineal descendant of a grandparent of the transferor shall be assigned to that generation which results from comparing the number of generations between the grandparent and such individual with the number of generations between the grandparent and the transferor.
(2) **On spouse’s side** — An individual who is a lineal descendant of a grandparent of a spouse (or former spouse) of the transferor (other than such spouse) shall be assigned to that generation which results from comparing the number of generations between such grandparent and such individual with the number of generations between such grandparent and such spouse.
(3) **Treatment of legal adoptions, etc.** — For purposes of this subsection—
(A) *Legal adoptions* — A relationship by legal adoption shall be treated as a relationship by blood.
(B) *Relationships by half-blood* — A relationship by the half-blood shall be treated as a relationship of the whole-blood.
**(c) Marital relationship**
(1) **Marriage to transferor** — An individual who has been married at any time to the transferor shall be assigned to the transferor’s generation.
(2) **Marriage to other lineal descendants** — An individual who has been married at any time to an individual described in subsection (b) shall be assigned to the generation of the individual so described.
**(d) Persons who are not lineal descendants** An individual who is not assigned to a generation by reason of the foregoing provisions of this section shall be assigned to a generation on the basis
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2651
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Federal law — U.S. Code and appendices · legal_authorities
A tax is hereby imposed on every generation-skipping transfer (within the meaning of subchapter B).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2601
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** For purposes of this chapter, the term “generation-skipping transfer” means—
(1) a taxable distribution,
(2) a taxable termination, and
(3) a direct skip.
**(b) Certain transfers excluded** The term “generation-skipping transfer” does not include—
(1) any transfer which, if made inter vivos by an individual, would not be treated as a taxable gift by reason of section 2503(e) (relating to exclusion of certain transfers for educational or medical expenses), and
(2) any transfer to the extent—
(A) the property transferred was subject to a prior tax imposed under this chapter,
(B) the transferee in the prior transfer was assigned to the same generation as (or a lower generation than) the generation assignment of the transferee in this transfer, and
(C) such transfers do not have the effect of avoiding tax under this chapter with respect to any transfer.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2611
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Federal law — U.S. Code and appendices · legal_authorities
Page 2654
TITLE 26—INTERNAL REVENUE CODE
§ 2611
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF REPEAL
Repeal effective Dec. 19, 2014, subject to a savings
provision, see section 221(b) of Pub. L. 113–295, set out
as an Effective Date of 2014 Amendment note under sec-
tion 1 of this title.
Subchapter B—Generation-Skipping Transfers
Sec.
2611.
Generation-skipping transfer defined.
2612.
Taxable termination; taxable distribution; di-
rect skip.
2613.
Skip person and non-skip person defined.
Editorial Notes
AMENDMENTS
1986—Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986,
100 Stat. 2718, substituted ‘‘Generation-Skipping Trans-
fers’’ for ‘‘Definitions and Special Rules’’ in subchapter
heading, substituted ‘‘Generation-skipping transfer de-
fined’’ for ‘‘Generation-skipping transfer’’ in item 2611,
‘‘Taxable termination; taxable distribution; direct
skip’’ for ‘‘Deemed transferor’’ in item 2612, and ‘‘Skip
person and non-skip person defined’’ for ‘‘Other defini-
tions’’ in item 2613, and struck out item 2614 ‘‘Special
rules’’.
§ 2611. Generation-skipping transfer defined
(a) In general
For purposes of this chapter, the term ‘‘gen-
eration-skipping transfer’’ means—
(1) a taxable distribution,
(2) a taxable termination, and
(3) a direct skip.
(b) Certain transfers excluded
The term ‘‘generation-skipping transfer’’ does
not include—
(1) any transfer which, if made inter vivos by
an individual, would not be treated as a tax-
able gift by reason of section 2503(e) (relating
to exclusion of certain transfers for edu-
cational or medical expenses), and
(2) any transfer to the extent—
(A) the property transferred was subject to
a prior tax imposed under this chapter,
(B) the transferee in the prior transfer was
assigned to the same g
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 2612
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