General rule

1 rule

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Gross income does not include the value of property acquired by gift, bequest, devise, or inheritance.

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Whole section

Encodings · 1

amount_excluded_from_gross_income_under_section_10226 USC § 102 (a) · derived

26 U.S.C. 102(a)-(c)

name: amount_excluded_from_gross_income_under_section_102
kind: derived
entity: Person
dtype: Money
period: Year
unit: USD
source: 26 U.S.C. 102(a)-(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/102
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us/statute/26/102
versions:
  - effective_from: '1990-01-01'
    formula: >-
      max(0, value_of_property_acquired_by_gift_bequest_devise_or_inheritance -
      income_from_property_referred_to_in_subsection_a -
      amount_of_gift_bequest_devise_or_inheritance_that_is_income_from_property
      -
      amount_paid_credited_or_to_be_distributed_at_intervals_out_of_income_from_property
      - amount_included_in_gross_income_of_beneficiary_under_subchapter_j -
      amount_transferred_by_or_for_employer_to_or_for_benefit_of_employee)

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statutes/26/102.yaml

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This encoding covers the parent provision us/statute/26/102; no dedicated encoding exists for this exact provision yet.

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Rules

amount_excluded_from_gross_income_under_section_102

Derived

source: 26 U.S.C. 102(a)-(c)

- name: amount_excluded_from_gross_income_under_section_102
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: 26 U.S.C. 102(a)-(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/102
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/102
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        max(0, value_of_property_acquired_by_gift_bequest_devise_or_inheritance -
        income_from_property_referred_to_in_subsection_a -
        amount_of_gift_bequest_devise_or_inheritance_that_is_income_from_property -
        amount_paid_credited_or_to_be_distributed_at_intervals_out_of_income_from_property -
        amount_included_in_gross_income_of_beneficiary_under_subchapter_j -
        amount_transferred_by_or_for_employer_to_or_for_benefit_of_employee)

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