§2052 — Repealed. Pub. L. 94–455, title XX, § 2001(a)(4), Oct. 4, 1976, 90 Stat. 1848]
7 citing cases
Statute Text — 26 U.S.C. §2052
[§ 2052. Repealed. Pub. L. 94–455, title XX, § 2001(a)(4), Oct. 4, 1976, 90 Stat. 1848] Section, act Aug. 16, 1954, ch. 736, 68A Stat. 389, provided for an exemption of $60,000 to be deducted from gross estate in determining value of taxable estate. Statutory Notes and Related Subsidiaries Effective Date of RepealRepeal applicable to estates of decedents dying after Dec. 31, 1976, see section 2001(d)(1) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 2001 of this title.
Treasury Regulations
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Treas. Reg. §20.2052-1Exemption
An exemption of $60,000 is allowed as a deduction under section 2052 from the gross estate of a decedent who was a citizen or resident of the United States at the time of his death. For the amount of the exemption allowed as a deduction from the gross estate of a decedent who was a nonresident not a citizen of the United States, see paragraph (a)(3) of § 20.2106-1.
7 Citing Cases
However, section 2013(b) of the 1954 Code provided that the taxable estate should then be increased by the exemption provided by section 2052 or 2106(a)(3) or by the corresponding, provisions of prior laws .
However, section 2013(b) of the 1954 Code provided that the taxable estate should then be increased by the exemption provided by section 2052 or 2106(a)(3) or by the corresponding provisions of prior laws.