Internal Revenue Code:Sec. 2054. Losses

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Contents


Location in Internal Revenue Code


     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle B - Estate and Gift Taxes
       CHAPTER 11 - ESTATE TAX
        Subchapter A - Estates of Citizens or Residents
         PART IV - TAXABLE ESTATE

Statute

    Sec. 2054. Losses
 
      For purposes of the tax imposed by section 2001, the value of the
    taxable estate shall be determined by deducting from the value of
    the gross estate losses incurred during the settlement of estates
    arising from fires, storms, shipwrecks, or other casualties, or
    from theft, when such losses are not compensated for by insurance
    or otherwise.

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 390.)

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 303, 642, 2013, 2053,
    2106, 6166 of this title.
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