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26 U.S.C. § 6075 — Time for filing estate and gift tax returns
Federal law — U.S. Code and appendices · legal_authorities
**(a) Estate tax returns** Returns made under section 6018(a) (relating to estate taxes) shall be filed within 9 months after the date of the decedent’s death.
**(b) Gift tax returns**
(1) **General rule** — Returns made under section 6019 (relating to gift taxes) shall be filed on or before the 15th day of April following the close of the calendar year.
(2) **Extension where taxpayer granted extension for filing income tax return** — Any extension of time granted the taxpayer for filing the return of income taxes imposed by subtitle A for any taxable year which is a calendar year shall be deemed to be also an extension of time granted the taxpayer for filing the return under section 6019 for such calendar year.
(3) **Coordination with due date for estate tax return** — Notwithstanding paragraphs (1) and (2), the time for filing the return made under section 6019 for the calendar year which includes the date of death of the donor shall not be later than the time (including extensions) for filing the return made under section 6018 (relating to estate tax returns) with respect to such donor.
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Stable record: federal_law:legal_authorities:record_usc_e1567213625f2469512e17b2
Source file: Laws/federal/codes/united-states-code/title-26/section-6075-time-for-filing-estate-and-gift-tax-returns--5d5780b27b.md
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Source location: Title 26, Chapter 61, § 6075; chapter-061-information-and-returns.md
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**(a) Estate tax returns** Returns made under section 6018(a) (relating to estate taxes) shall be filed within 9 months after the date of the decedent’s death.
**(b) Gift tax returns**
(1) **General rule** — Returns made under section 6019 (relating to gift taxes) shall be filed on or before the 15th day of April following the close of the calendar year.
(2) **Extension where taxpayer granted extension for filing income tax return** — Any extension of time granted the taxpayer for filing the return of income taxes imposed by subtitle A for any taxable year which is a calendar year shall be deemed to be also an extension of time granted the taxpayer for filing the return under section 6019 for such calendar year.
(3) **Coordination with due date for estate tax return** — Notwithstanding paragraphs (1) and (2), the time for filing the return made under section 6019 for the calendar year which includes the date of death of the donor shall not be later than the time (including extensions) for filing the return made under section 6018 (relating to estate tax returns) with respect to such donor.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Exclusion** Gross income shall not include gain from the sale or exchange of property if, during the 5-year period ending on the date of the sale or exchange, such property has been owned and used by the taxpayer as the taxpayer’s principal residence for periods aggregating 2 years or more.
**(b) Limitations**
(1) **In general** — The amount of gain excluded from gross income under subsection (a) with respect to any sale or exchange shall not exceed $250,000.
(2) **Special rules for joint returns** — In the case of a husband and wife who make a joint return for the taxable year of the sale or exchange of the property—
(A) *$500,000 Limitation for certain joint returns* — Paragraph (1) shall be applied by substituting “$500,000” for “$250,000” if—
(i) either spouse meets the ownership requirements of subsection (a) with respect to such property;
(ii) both spouses meet the use requirements of subsection (a) with respect to such property; and
(iii) neither spouse is ineligible for the benefits of subsection (a) with respect to such property by reason of paragraph (3).
(B) *Other joint returns* — If such spouses do not meet the requirements of subparagraph (A), the limitation under paragraph (1) shall be the sum of the limitations under paragraph (1) to which each spouse would be entitled if such spouses had not been married. For purposes of the preceding sentence, each spouse shall be treated as owning the property during the period that either spouse owned the property.
(3) **Application to only 1 sale or exchange every 2 years** — Subsection (a) shall not apply to any sale or exchange by the taxpayer if, during the 2-year period ending on the date of such sale or exchange, there was any other sale or exchange by the taxpayer to which subsec
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 121
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Taxable transfers**
(1) **General rule** — A tax, computed as provided in section 2502, is hereby imposed for each calendar year on the transfer of property by gift during such calendar year by any individual resident or nonresident.
(2) **Transfers of intangible property** — Except as provided in paragraph (3), paragraph (1) shall not apply to the transfer of intangible property by a nonresident not a citizen of the United States.
(3) **Exception**
(A) *Certain individuals* — Paragraph (2) shall not apply in the case of a donor to whom section 877(b) applies for the taxable year which includes the date of the transfer.
(B) *Credit for foreign gift taxes* — The tax imposed by this section solely by reason of this paragraph shall be credited with the amount of any gift tax actually paid to any foreign country in respect of any gift which is taxable under this section solely by reason of this paragraph.
(4) **Transfers to political organizations** — Paragraph (1) shall not apply to the transfer of money or other property to a political organization (within the meaning of section 527(e)(1)) for the use of such organization.
(5) **Transfers of certain stock**
(A) *In general* — In the case of a transfer of stock in a foreign corporation described in subparagraph (B) by a donor to whom section 877(b) applies for the taxable year which includes the date of the transfer—
(i) section 2511(a) shall be applied without regard to whether such stock is situated within the United States, and
(ii) the value of such stock for purposes of this chapter shall be its U.S.-asset value determined under subparagraph (C).
(B) *Foreign corporation described* — A foreign corporation is described in this subparagraph with respect to a donor if—
(i) the donor
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2501
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General** The value of the gross estate may be determined, if the executor so elects, by valuing all the property included in the gross estate as follows:
(1) In the case of property distributed, sold, exchanged, or otherwise disposed of, within 6 months after the decedent’s death such property shall be valued as of the date of distribution, sale, exchange, or other disposition.
(2) In the case of property not distributed, sold, exchanged, or otherwise disposed of, within 6 months after the decedent’s death such property shall be valued as of the date 6 months after the decedent’s death.
(3) Any interest or estate which is affected by mere lapse of time shall be included at its value as of the time of death (instead of the later date) with adjustment for any difference in its value as of the later date not due to mere lapse of time.
**(b) Special rules** No deduction under this chapter of any item shall be allowed if allowance for such items is in effect given by the alternate valuation provided by this section. Wherever in any other subsection or section of this chapter reference is made to the value of property at the time of the decedent’s death, such reference shall be deemed to refer to the value of such property used in determining the value of the gross estate. In case of an election made by the executor under this section, then—
(1) for purposes of the charitable deduction under section 2055 or 2106(a)(2), any bequest, legacy, devise, or transfer enumerated therein, and
(2) for the purpose of the marital deduction under section 2056, any interest in property passing to the surviving spouse,
shall be valued as of the date of the decedent’s death with adjustment for any difference in value (not due to mere lapse of time or the occurrence or nonoccurren
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2032
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Federal law — U.S. Code and appendices · legal_authorities
Page 3419
TITLE 26—INTERNAL REVENUE CODE
§ 6075
[§ 6074. Repealed. Pub. L. 90–364, title I, § 103(a),
June 28, 1968, 82 Stat. 260]
Section, acts Aug. 16, 1954, ch. 736, 68A Stat. 751; Feb.
26, 1964, Pub. L. 88–272, title I, § 122(b), 78 Stat. 27, pro-
vided for the time of filing declarations of estimated
income tax by corporations.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF REPEAL
Repeal effective with respect to taxable years begin-
ning after Dec. 31, 1967, except as provided by section
104 of Pub. L. 90–364, see section 103(f) of Pub. L. 90–364,
set out as an Effective Date of 1968 Amendment note
under section 243 of this title.
§ 6075. Time for filing estate and gift tax returns
(a) Estate tax returns
Returns made under section 6018(a) (relating
to estate taxes) shall be filed within 9 months
after the date of the decedent’s death.
(b) Gift tax returns
(1) General rule
Returns made under section 6019 (relating to
gift taxes) shall be filed on or before the 15th
day of April following the close of the calendar
year.
(2) Extension where taxpayer granted exten-
sion for filing income tax return
Any extension of time granted the taxpayer
for filing the return of income taxes imposed
by subtitle A for any taxable year which is a
calendar year shall be deemed to be also an ex-
tension of time granted the taxpayer for filing
the return under section 6019 for such calendar
year.
(3) Coordination with due date for estate tax
return
Notwithstanding paragraphs (1) and (2), the
time for filing the return made under section
6019 for the calendar year which includes the
date of death of the donor shall not be later
than the time (including extensions) for filing
the return made under section 6018 (relating to
estate tax returns
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 6075
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.