2014—Subsec. (a)(1). Pub. L. 113–295 struck out “(computed without regard to section 2604)” after “section 2601”.
1998—Subsec. (b). Pub. L. 105–206 inserted at end “For purposes of this subsection, a trust shall be treated as part of an estate during any period that the trust is so treated under section 645.”
1989—Subsec. (a)(1). Pub. L. 101–239 inserted at end “The preceding shall be applied after any basis adjustment under section 1015 with respect to the transfer.”
1988—Subsec. (a)(2). Pub. L. 100–647, § 1014(g)(12), inserted “or decrease” after “any increase” and “or decrease (as the case may be)” after “such increase”.
Subsec. (b). Pub. L. 100–647, § 1014(g)(13), substituted “Certain trusts” for “Separate shares” in heading and amended text generally. Prior to amendment, text read as follows: “Substantially separate and independent shares of different beneficiaries in a trust shall be treated as separate trusts.”
Amendment by Pub. L. 113–295 effective
Amendment by Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates (see section 1305 of Pub. L. 105–34), see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
Amendment by Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100–647, to which such amendment relates, see section 7817 of Pub. L. 101–239, set out as a note under section 1 of this title.
Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after