§2515 — Treatment of generation-skipping transfer tax
9 cases·2 followed·1 criticized·6 cited—22% support
Statute Text — 26 U.S.C. §2515
In the case of any taxable gift which is a direct skip (within the meaning of chapter 13), the amount of such gift shall be increased by the amount of any tax imposed on the transferor under chapter 13 with respect to such gift.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §25.2515-1 Tenancies by the entirety; in general
- Treas. Reg. §Treas. Reg. §25.2515-1(a) §25.2515-1(a)
- Treas. Reg. §Treas. Reg. §25.2515-1(b) On or before the due date for the filing of a gift tax return for the calendar quarter or calendar year (see § 25.
- Treas. Reg. §Treas. Reg. §25.2515-1(c) After the sale, exchange or other disposition of the former property and within a reasonable time after the date of the contract referred to in $(b) of this subdivision, such other real property actually is acquired by the spouses and held by them in an identical tenancy.
- Treas. Reg. §Treas. Reg. §25.2515-1(d) Gift upon termination of tenancy by the entirety—(1) In general.
- Treas. Reg. §Treas. Reg. §25.2515-2 Tenancies by the entirety; transfers treated as gifts; manner of election and valuation
- Treas. Reg. §Treas. Reg. §25.2515-2(a) The election to treat the creation of a tenancy by the entirety in real property, or additions made to its value, as constituting a gift in the calendar quarter or calendar year in which effected, shall be exercised by including the value of such gifts in the gift tax return of the donor for such calendar quarter or calendar year in which the tenancy was created, or the additions in value were made to the property.
- Treas. Reg. §Treas. Reg. §25.2515-2(b) §25.2515-2(b)
- Treas. Reg. §Treas. Reg. §25.2515-2(c) Factors representing the respective interests of the spouses, under a tenancy by the entirety, at their attained ages at the time of the transaction may be readily computed based on the method described in § 25.
- Treas. Reg. §Treas. Reg. §25.2515-2(d) §25.2515-2(d)
- Treas. Reg. §Treas. Reg. §25.2515-3 Termination of tenancy by the entirety; cases in which entire value of gift is determined under section 2515(b)
- Treas. Reg. §Treas. Reg. §25.2515-3(a) §25.2515-3(a)
- Treas. Reg. §Treas. Reg. §25.2515-3(b) In computing the value of the gift under the circumstances described in paragraph (a) of this section, it is first necessary to determine the spouse's share of the proceeds attributable to the consideration furnished by him.
- Treas. Reg. §Treas. Reg. §25.2515-3(c) §25.2515-3(c)
- Treas. Reg. §Treas. Reg. §25.2515-4 Termination of tenancy by entirety; cases in which none, or a portion only, of value of gift is determined under section 2515(b)
- Treas. Reg. §Treas. Reg. §25.2515-4(a) In general.
- Treas. Reg. §Treas. Reg. §25.2515-4(b) Value of gift when entire consideration is of the type described in paragraph (a) of this section.
- Treas. Reg. §Treas. Reg. §25.2515-4(c) Valuation of gift where both types of consideration are involved.
- Treas. Reg. §Treas. Reg. §25.2515-4(d) §25.2515-4(d)
9 Citing Cases
but only if-- (A) such joint interest was created by the decedent, the decedent's spouse, or both, (B)(i) in the case of personal property, the creation of such joint interest constituted in whole or in part a gift for purposes of chapter 12, or (ii) in the case of real property, an election under section 2515 applies with respect to the creation of such joint interest, and (C) in the case of a joint tenancy, only the decedent and the decedent's spouse are joint tenants.
section 2515 (1970), a statutory suppression provision, enacted as part of the Federal wiretapping statute, Title III of the Omnibus Crime Control and Safe Streets Act of 1968, Pub. L. 90-351, 82 Stat. 211-225, prohibits the reception of the intercepted communications into evidence in these proceedings. Title 18 U.S.C. section 2515 provides as foll
by the decedent, the decedent’s spouse, or both, (B)(i) in the case of personal property, the creation of such joint interest constituted in whole or in part a gift for purposes of chapter 12, or (ii) in the case of real property, an election under section 2515 applies with respect to the creation of such joint interest, and (C) in the case of a joint tenancy, only the decedent and the decedent’s spouse are joint tenants.