[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.661(a)-1]

[Page 103]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.661(a)-1  Estates and trusts accumulating income or distributing 
corpus; general.

    Subpart C, part I, subchapter J, chapter 1 of the Code, is 
applicable to all decedents' estates and their beneficiaries, and to 
trusts and their beneficiaries other than trusts subject to the 
provisions of subpart B of such part I (relating to trusts which 
distribute current income only, or ``simple'' trusts). A trust which is 
required to distribute amounts other than income during the taxable year 
may be subject to subpart B, and not subpart C, in the absence of an 
actual distribution of amounts other than income during the taxable 
year. See Sec. Sec. 1.651(a)-1 and 1.651(a)-3. A trust to which subpart 
C is applicable is referred to as a ``complex'' trust in this part. 
Section 661 has no application to amounts excluded under section 663(a).