§ 2013.
(a)
General rule
The tax imposed by section 2001 shall be credited with all or a part of the amount of the Federal estate tax paid with respect to the transfer of property (including property passing as a result of the exercise or non-exercise of a power of appointment) to the decedent by or from a person (herein designated as a “transferor”) who died within 10 years before, or within 2 years after, the decedent’s death. If the transferor died within 2 years of the death of the decedent, the credit shall be the amount determined under subsections (b) and (c). If the transferor predeceased the decedent by more than 2 years, the credit shall be the following percentage of the amount so determined—
(1)
80 percent, if within the third or fourth years preceding the decedent’s death;
(2)
60 percent, if within the fifth or sixth years preceding the decedent’s death;
(3)
40 percent, if within the seventh or eighth years preceding the decedent’s death; and
(4)
20 percent, if within the ninth or tenth years preceding the decedent’s death.
(d)
Valuation of property transferred
The value of property transferred to the decedent shall be the value used for the purpose of determining the Federal estate tax liability of the estate of the transferor but—
(1)
there shall be taken into account the effect of the tax imposed by section 2001 or 2101, or any estate, succession, legacy, or inheritance tax, on the net value to the decedent of such property;
(2)
where such property is encumbered in any manner, or where the decedent incurs any obligation imposed by the transferor with respect to such property, such encumbrance or obligation shall be taken into account in the same manner as if the amount of a gift to the decedent of such property was being determined; and
(3)
if the decedent was the spouse of the transferor at the time of the transferor’s death, the net value of the property transferred to the decedent shall be reduced by the amount allowed under section 2056 (relating to marital deductions), as a deduction from the gross estate of the transferor.
(f)
Treatment of additional tax imposed under section 2032A
If section 2032A applies to any property included in the gross estate of the transferor and an additional tax is imposed with respect to such property under section 2032A(c) before the date which is 2 years after the date of the decedent’s death, for purposes of this section—
(1)
the additional tax imposed by section 2032A(c) shall be treated as a Federal estate tax payable with respect to the estate of the transferor; and
(2)
the value of such property and the amount of the taxable estate of the transferor shall be determined as if section 2032A did not apply with respect to such property.
([Aug. 16, 1954, ch. 736], [68A Stat. 377]; [Pub. L. 94–455, title XIX, § 1902(a)(2)], title XX, §§ 2001(c)(1)(C), 2003(c), 2006(b)(2), Oct. 4, 1976, [90 Stat. 1804], 1850, 1862, 1888; [Pub. L. 99–514, title XIV, § 1432(c)(2)], Oct. 22, 1986, [100 Stat. 2730]; [Pub. L. 100–647, title I, § 1011A(g)(7)], Nov. 10, 1988, [102 Stat. 3481]; [Pub. L. 105–34, title X, § 1073(b)(2)], Aug. 5, 1997, [111 Stat. 948]; [Pub. L. 107–16, title V, § 532(c)(2)], June 7, 2001, [115 Stat. 74].)