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Internal Revenue Code (Title 26 U.S.C.)

26 U.S.C. § 2622

Taxable amount in case of taxable termination

Official textgovinfo.govlast amended

# (a) In general

For purposes of this chapter, the taxable amount in the case of a taxable termination shall be— (1) the value of all property with respect to which the taxable termination has occurred, reduced by (2) any deduction allowed under subsection (b).

# (b) Deduction for certain expenses

For purposes of subsection (a), there shall be allowed a deduction similar to the deduction allowed by section 2053 (relating to expenses, indebtedness, and taxes) for amounts attributable to the property with respect to which the taxable termination has occurred.

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