C.F.R. » Title 26 » CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER B—ESTATE AND GIFT TAXES › PART 20—ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954

26 C.F.R. § 20.2053-5

Deductions for charitable, etc., pledges or subscriptions

Read at: eCFRecfr.gov CornellLII GovInfogovinfo.gov CasesGoogle Scholar

(a) A pledge or a subscription, evidenced by a promissory note or otherwise, even though enforceable against the estate, is deductible (subject to any applicable limitations in § 20.2053-1) only to the extent that—

(1) Liability therefor was contracted bona fide and for an adequate and full consideration in cash or its equivalent, or

(2) It would have constituted an allowable deduction under section 2055 (relating to charitable, etc., deductions) if it had been a bequest.

(b) Effective/applicability date. This section applies to the estates of decedents dying on or after October 20, 2009.

[T.D. 6296, 23 FR 4529, June 24, 1958, as amended at T.D. 9468, 74 FR 53664, Oct. 20, 2009]
Notes of Decisions
Cited in 4 cases, 1978–2011 · leading case: Arrowsmith v. Mercantile-Safe Deposit & Trust Co., 545 A.2d 674 (Md. 1988).
Sort: Relevance Newest Treatment
Arrowsmith v. Mercantile-Safe Deposit & Trust Co., 545 A.2d 674 (Md. 1988). “One of the Internal Revenue Service Regulations relating to the federal estate tax is 26 C.F.R. § 20.2053-5 (1987) which reads: A pledge or a subscription, evidenced by a promissory note or otherwise, even though enforceable against the estate, is deductible [from the decedent’s…”
Est. of Saunders v. Comm'r, 136 T.C. 406 (Tax Ct. 2011). · cites it 2× “Only interest accrued at the date of the decedent's death is allowable even though the executor elects the alternate valuation method under section 2032 . Only claims enforceable against the decedent's estate may be deducted.”
In re the Est. of Weaver, 42 A.F.T.R.2d (RIA) 6427 (N.Y. Sur. Ct. 1978). “2053-5 of the Treasury Regulations (26 CFR 20.2053-5 [a], [b]) In response to a New York State Tax Department request for clarification, the Internal Revenue Service on August 20, 1976 published a memorandum, which determined that the value of property passing to the United…”
Est. of Levin v. Comm'r, 69 T.C.M. 1951 (Tax Ct. 1995). · cites it 4× “Sec. 2053(c)(1)(A) ; sec. 20.2053-5 , Estate Tax Regs.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.