§ 1.273-1 Life or terminable interests.
Amended 1976
- 1976 Pub. L. 94-455 Pub. L. 94–455 struck out reference to amounts paid under laws of a Territory.
Cases: Early v. Commissioner, 445 F.2d 166 (5th Cir. 1971); Elrick v. Commissioner, 485 F.2d 1049 (D.C. Cir. 1973)
Final rules 1
Amounts paid under the laws of a State, the District of Columbia, a possession of the United States, or a foreign country as income to the holder of a life or terminable interest acquired by gift, bequest, or inheritance shall not be reduced or diminished by any deduction for shrinkage (by whatever name called) in the value of such interest due to the lapse of time.