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FEDERAL INCOME, ESTATE & GIFT TAX PROJECT 1 (PART III TRUSTS, BENEFICIARIES & ESTATES, April 16, 1951)

handle is hein.ali/aliftp0280 and id is 1 raw text is: April 16, 1951
PART III. TRUSTS, BENEFICIARIE4 AMD ESTATES

Subpart (a).
Subpart (b).
Subpart (c).
Subpart (d).
Subpart (e).
Section XSOO.
Section X801.
Section X802.
Section X803.
Section X804.
Section X805o
Section X810.
Section X819.

Section X820.

Trusts
Beneficiaries of Trusts
Grantors and Others Treated as Substantial Owners
Estates and Heirs, Legatees, and Devisees
Income in Respect of a Decedent [not included in this
draft]
Subpart (a). Trusts
Taxation of Trusts
Deduction for Distributions to Beneficiaries
Limitation of Deduction for Distributions to Bene-
ficiaries
Credit for Partially Tax Exempt Interest
Deduction for Charitable Contributions
Disallowance of Optional Standard Deduction
Credits of Trust Against Net Income
Treatment of Separate Shares of Different Benefici-
aries as Separate Trusts
Definitions

SECTION xMO. TAXATION OF TRUSTS.
(a) Imposition of Tax.---The tax imposed upon individuals by this
Chapter shall apply to trusts, except as provided in subpart (c). The
tax shall be computed upon the not income of the trust and shall be
paid by the fiduciary.
(b) General Rule for Computing Net Income of Trusts.--The net in-
come of a trust shall be computed in the same manner as in the case of
nn individual, except as prcvided in sections X801 through X805.

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