View all text of Subchapter F [§ 2651 - § 2654]

§ 2653. Taxation of multiple skips
(a) General rule
For purposes of this chapter, if—
(1) there is a generation-skipping transfer of any property, and
(2) immediately after such transfer such property is held in trust,
for purposes of applying this chapter (other than section 2651) to subsequent transfers from the portion of such trust attributable to such property, the trust will be treated as if the transferor of such property were assigned to the first generation above the highest generation of any person who has an interest in such trust immediately after the transfer.
(b) Trust retains inclusion ratio
(1) In general
(2) Special rule for pour-over trust
(A) In general
(B) Nontax portion
(Added Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2727.)