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)).
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)).