26 U.S.C. § 2624
Valuation
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 2624, Valuation, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/463249
- Permanent ID
ys:prov:463249@1- SHA-256
873f729ad00f4db96618040d8bb42069932fa476a47d679a3303a7229946a06d
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Except as otherwise provided in this chapter, property shall be valued as of the time of the generation-skipping transfer.
In the case of any direct skip of property which is included in the transferor’s gross estate, the value of such property for purposes of this chapter shall be the same as its value for purposes of chapter 11 (determined with regard to sections 2032 and 2032A).
If 1 or more taxable terminations with respect to the same trust occur at the same time as and as a result of the death of an individual, an election may be made to value all of the property included in such terminations in accordance with section 2032.
For purposes of this chapter, the value of the property transferred shall be reduced by the amount of any consideration provided by the transferee.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Tax Reform Act of 1986House: no recorded tallySenate: no recorded tally