Statute · United States Code
26 U.S.C. § 683 — Use of trust as an exchange fund
26 U.S.C. § 683
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- litigation
Except as provided in subsection (b), if property is transferred to a trust in exchange for an interest in other trust property and if the trust would be an investment company (within the meaning of section 351) if it were a corporation, then gain shall be recognized to the transferor. Subsection (a) shall not apply to any transfer to a pooled income fund (within the meaning of section 642(c)(5)).
Citator
26 U.S.C. § 683 — Use of trust as an exchange fund is in force in the current edition of the Code, and nothing recorded condemns it.
Except as provided in subsection (b), if property is transferred to a trust in exchange for an interest in other trust property and if the trust would be an investment company (within the meaning of section 351) if it were a corporation, then gain shall be recognized to the transferor. Subsection (a) shall not apply to any transfer to a pooled income fund (within the meaning of section 642(c)(5)).