Internal Revenue Code (Title 26 U.S.C.)
26 U.S.C. § 645
Certain revocable trusts treated as part of estate
# (a) General rule
For purposes of this subtitle, if both the executor (if any) of an estate and the trustee of a qualified revocable trust elect the treatment provided in this section, such trust shall be treated and taxed as part of such estate (and not as a separate trust) for all taxable years of the estate ending after the date of the decedent's death and before the applicable date.
# (b) Definitions
For purposes of subsection (a)— (1) Qualified revocable trust The term "qualified revocable trust" means any trust (or portion thereof) which was treated under section 676 as owned by the decedent of the estate referred to in subsection (a) by reason of a power in the grantor (determined without regard to section 672(e)). (2) Applicable date The term "applicable date" means— (A) if no return of tax imposed by chapter 11 is required to be filed, the date which is 2 years after the date of the decedent's death, and (B) if such a return is required to be filed, the date which is 6 months after the date of the final determination of the liability for tax imposed by chapter 11.
# (c) Election
The election under subsection (a) shall be made not later than the time prescribed for filing the return of tax imposed by this chapter for the first taxable year of the estate (determined with regard to extensions) and, once made, shall be irrevocable.
Source: view the official text
Nearby sections (25 sections)
- 615 · [§615. Repealed. Pub. L. 94–455, title XIX, §1901(a)(88), Oct. 4,…
- 616 · Development expenditures
- 617 · Deduction and recapture of certain mining exploration expenditures
- 621 · [§621. Repealed. Pub. L. 101–508, title XI, §11801(a)(28), Nov.…
- 631 · Gain or loss in the case of timber, coal, or domestic iron ore
- 632 · [§632. Repealed. Pub. L. 94–455, title XIX, §1901(a)(90), Oct. 4,…
- 636 · Income tax treatment of mineral production payments
- 638 · Continental shelf areas
- 641 · Imposition of tax
- 642 · Special rules for credits and deductions
- 643 · Definitions applicable to subparts A, B, C, and D
- 644 · Taxable year of trusts
- 645 · Certain revocable trusts treated as part of estate
- 646 · Tax treatment of electing Alaska Native Settlement Trusts
- 651 · Deduction for trusts distributing current income only
- 652 · Inclusion of amounts in gross income of beneficiaries of trusts…
- 661 · Deduction for estates and trusts accumulating income or…
- 662 · Inclusion of amounts in gross income of beneficiaries of estates…
- 663 · Special rules applicable to sections 661 and 662
- 664 · Charitable remainder trusts
- 665 · Definitions applicable to subpart D
- 666 · Accumulation distribution allocated to preceding years
- 667 · Treatment of amounts deemed distributed by trust in preceding…
- 668 · Interest charge on accumulation distributions from foreign trusts
- 669 · [§669. Repealed. Pub. L. 94–455, title VII, §701(d)(1), Oct. 4,…