
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC273]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
               Subchapter B--Computation of Taxable Income
 
                      PART IX--ITEMS NOT DEDUCTIBLE
 
Sec. 273. Holders of life or terminable interest

    Amounts paid under the laws of a State, the District of Columbia, a 
possession of the United States, or a foreign country as income to the 
holder of a life or terminable interest acquired by gift, bequest, or 
inheritance shall not be reduced or diminished by any deduction for 
shrinkage (by whatever name called) in the value of such interest due to 
the lapse of time.

(Aug. 16, 1954, ch. 736, 68A Stat. 83; Pub. L. 94-455, title XIX, 
Sec. 1901(c)(2), Oct. 4, 1976, 90 Stat. 1803.)


                               Amendments

    1976--Pub. L. 94-455 struck out reference to amounts paid under laws 
of a Territory.


                    Effective Date of 1976 Amendment

    Amendment by Pub. L. 94-455 effective for taxable years beginning 
after Dec. 31, 1976, see section 1901(d) of Pub. L. 94-455, set out as a 
note under section 2 of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 167 of this title.
