Treasury Regulations (26 C.F.R.)
26 CFR § 1.665(b)-3 — (b)-3 Exclusions under section 663(a)(1).
Subpart D (section 665 and following), part I, subchapter J, chapter 1 of the Code, has no application to an amount which qualifies as an exclusion under section 663(a)(1), relating to gifts, bequests, etc.
Source: official text