Title 26, Internal Revenue CodeRelease 119-102
§2623 Taxable Amount in Case of Direct Skip
Title 26 › Subtitle B — Estate and Gift Taxes › CHAPTER 13 — TAX ON GENERATION-SKIPPING TRANSFERS › Subchapter C — Taxable Amount › § 2623
Summary
When a direct skip happens, the amount taxed is the value of the property that the recipient actually receives.
Full Legal Text
Title 26, §2623
Internal Revenue Code, Source: USLM XML via OLRC
For purposes of this chapter, the taxable amount in the case of a direct skip shall be the value of the property received by the transferee.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see section 1433 of Pub. L. 99–514, set out as a note under section 2601 of this title.
Reference
Citations & Metadata
Citation
26 U.S.C. § 2623
Title 26, Internal Revenue Code
Last Updated
Aug 21, 2026
Release point: 119-102