§ 102. Gifts and inheritances
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/usc/title-26/section-102A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)General rule Gross income does not include the value of property acquired by gift, bequest, devise, or inheritance.
(b)Income Subsection
(a)shall not exclude from gross income—
(1)the income from any property referred to in subsection (a); or
(2)where the gift, bequest, devise, or inheritance is of income from property, the amount of such income.
Where, under the terms of the gift, bequest, devise, or inheritance, the payment, crediting, or distribution thereof is to be made at intervals, then, to the extent that it is paid or credited or to be distributed out of income from property, it shall be treated for purposes of paragraph
(2)as a gift, bequest, devise, or inheritance of income from property. Any amount included in the gross income of a beneficiary under subchapter J shall be treated for purposes of paragraph
(2)as a gift, bequest, devise, or inheritance of income from property.
(c)Employee gifts
(1)In general Subsection
(a)shall not exclude from gross income any amount transferred by or for an employer to, or for the benefit of, an employee.
(2)Cross references For provisions excluding certain employee achievement awards from gross income, see section 74(c).
For provisions excluding certain de minimis fringes from gross income, see section 132(e).
(Aug. 16, 1954, ch. 736, 68A Stat. 28; Pub. L. 99–514, title I, § 122(b), Oct. 22, 1986, 100 Stat. 2110.)
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U.S. Code
6 references not yet in our index
- Aug. 16, 1954, ch. 736
- 68A Stat. 28
- Pub. L. 99–514, title I, § 122(b)
- 100 Stat. 2110
- Pub. L. 99–514
- section 151(c) of Pub. L. 99–514
Citation graph
cites case law
§ 102
Gifts and inheritances
Stat.×13
Fed. Reg.×1
ActAug. 16, 1954, ch. 736
Stat.68A Stat. 28
Pub. L.Pub. L. 99–514, title I, § 122(b)
Stat.100 Stat. 2110
Pub. L.Pub. L. 99–514
Cites 7 · showing 6Cited by 14 across 2 sources