26 USC 684 - Recognition of gain on certain transfers to certain foreign trusts and estates

U.S Code last checked for updates: Nov 22, 2024

§ 684.

Recognition of gain on certain transfers to certain foreign trusts and estates

(a)

In general

(1)

the fair market value of the property so transferred, over

(2)

the adjusted basis (for purposes of determining gain) of such property in the hands of the transferor.

(b)

Exception

(c)

Treatment of trusts which become foreign trusts

(Added Pub. L. 105–34, title XI, § 1131(b), Aug. 5, 1997, 111 Stat. 978; amended Pub. L. 107–16, title V, § 542(e)(1)(A)–(C), June 7, 2001, 115 Stat. 84, 85; Pub. L. 111–312, title III, § 301(a), Dec. 17, 2010, 124 Stat. 3300.)

cite as: 26 USC 684