2015 US Code
Title 26 - Internal Revenue Code (Sections 1 - 9834)
Subtitle A - Income Taxes (Sections 1 - 1564)
Chapter 1 - Normal Taxes and Surtaxes (Sections 1 - 1400U-3)
Subchapter J - Estates, Trusts, Beneficiaries, and Decedents (Sections 641 - 692)
Part I - Estates, Trusts, and Beneficiaries (Sections 641 - 685)
Subpart B - Trusts Which Distribute Current Income Only (Sections 651 - 652)
Sec. 651 - Deduction for trusts distributing current income only

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Metadata
Publication TitleUnited States Code, 2012 Edition, Supplement 3, Title 26 - INTERNAL REVENUE CODE
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 26 - INTERNAL REVENUE CODE
Subtitle A - Income Taxes
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter J - Estates, Trusts, Beneficiaries, and Decedents
PART I - ESTATES, TRUSTS, AND BENEFICIARIES
Subpart B - Trusts Which Distribute Current Income Only
Sec. 651 - Deduction for trusts distributing current income only
Containssection 651
Date2015
Laws In Effect As Of DateJanuary 3, 2016
Positive LawNo
Dispositionstandard
Source CreditAug. 16, 1954, ch. 736, 68A Stat. 219.

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26 U.S.C. § 651 (2015)
§651. Deduction for trusts distributing current income only(a) Deduction

In the case of any trust the terms of which—

(1) provide that all of its income is required to be distributed currently, and

(2) do not provide that any amounts are to be paid, permanently set aside, or used for the purposes specified in section 642(c) (relating to deduction for charitable, etc., purposes),


there shall be allowed as a deduction in computing the taxable income of the trust the amount of the income for the taxable year which is required to be distributed currently. This section shall not apply in any taxable year in which the trust distributes amounts other than amounts of income described in paragraph (1).

(b) Limitation on deduction

If the amount of income required to be distributed currently exceeds the distributable net income of the trust for the taxable year, the deduction shall be limited to the amount of the distributable net income. For this purpose, the computation of distributable net income shall not include items of income which are not included in the gross income of the trust and the deductions allocable thereto.

(Aug. 16, 1954, ch. 736, 68A Stat. 219.)

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