Title 15 — Commerce and TradeRelease 119-73not60

§1523 Tax Status of Gifts and Bequests of Property

Title 15 › Chapter 40— DEPARTMENT OF COMMERCE › § 1523

Last updated Apr 3, 2026|Official source

Summary

When the United States accepts property under section 1522, that property will be treated as a gift or bequest to the government for federal income, estate, and gift tax purposes.

Full Legal Text

Title 15, §1523

Commerce and Trade — Source: USLM XML via OLRC

For the purpose of Federal income, estate, and gift taxes, property accepted under section 1522 of this title shall be considered as a gift or bequest to or for the use of the United States.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Section was formerly classified to section 608b of Title 5 prior to the general revision and enactment of Title 5, Government Organization and Employees, by Pub. L. 89–554, § 1, Sept. 6, 1966, 80 Stat. 378.

Reference

Citations & Metadata

Citation

15 U.S.C. § 1523

Title 15 — Commerce and Trade

Last Updated

Apr 3, 2026

Release point: 119-73not60