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. 73668A Stat. 83Pub. L. 94–455, title XIX, § 1901(c)(2)90 Stat. 1803(, ; , , .)
Editorial Notes
Amendments
Pub. L. 94–4551976— struck out reference to amounts paid under laws of a Territory.
Statutory Notes and Related Subsidiaries
Effective Date of 1976 Amendment
Pub. L. 94–455section 1901(d) of Pub. L. 94–455section 2 of this titleAmendment by effective for taxable years beginning after , see , set out as a note under .