§ 25.7520-4. Transitional rules.
123 words·~1 min read·
/us/cfr/t26/s§ 25.7520-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Reliance. If the valuation date is after April 30, 1989, and before June 10, 1994, a donor can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700 (See § 601.601(d)(2)(ii)(b) of this chapter), in valuing the transferred interest.
(b)Transfers in 1989. If a donor transferred an interest in property by gift after December 31, 1988, and before May 1, 1989, retaining an interest in the same property and, after April 30, 1989, and before January 1, 1990, transferred the retained interest in the property, the donor may, at the donor's option, value the transfer of the retained interest under either § 25.2512-5(d) or § 25.2512-5A(d).
(c)Effective date. This section is effective as of May 1, 1989.