2016 US Code
Title 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 F - Miscellaneous
Sec. 683 - Use of trust as an exchange fund
| 26 U.S.C. § 683 (2016) |
| §683. Use of trust as an exchange fund |
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(a) General rule
Except as provided in subsection (b), if property is transferred to a trust in exchange for an interest in other trust property and if the trust would be an investment company (within the meaning of section 351) if it were a corporation, then gain shall be recognized to the transferor. (b) Exception for pooled income fundsSubsection (a) shall not apply to any transfer to a pooled income fund (within the meaning of section 642(c)(5)). |
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(Aug. 16, 1954, ch. 736, 68A Stat. 235; Pub. L. 94–455, title XXI, §2131(e)(1), Oct. 4, 1976, 90 Stat. 1924.) |
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AMENDMENTS
1976—Pub. L. 94–455 substituted provisions relating to use of trust as an exchange fund for provisions setting forth rule that this part applies only to taxable years beginning after Dec. 31, 1953, and ending after the date of the enactment of this title and exceptions thereto. EFFECTIVE DATE OF 1976 AMENDMENTAmendment of section by Pub. L. 94–455 effective on Apr. 8, 1976, in taxable years ending on or after such date, see section 2131(f)(6) of Pub. L. 94–455, set out as a note under section 584 of this title. |
| United States Code, 2012 Edition, Supplement 4, Title 26 - INTERNAL REVENUE CODE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 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 F - Miscellaneous Sec. 683 - Use of trust as an exchange fund |
| section 683 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 90 Stat. 1924 |
| Public Law 94-455 |
