[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: 26CFR1.662(b)-1]

[Page 109]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.662(b)-1  Character of amounts; when no charitable contributions 
are made.

    In determining the amount includible in the gross income of a 
beneficiary, the amounts which are determined under section 662(a) and 
Sec. Sec. 1.662(a)-1 through 1.662(a)-4 shall have the same character 
in the hands of the beneficiary as in the hands of the estate or trust. 
The amounts are treated as consisting of the same proportion of each 
class of items entering into the computation of distributable net income 
as the total of each class bears to the total distributable net income 
of the estate or trust unless the terms of the governing instrument 
specifically allocate different classes of income to different 
beneficiaries, or unless local law requires such an allocation. For this 
purpose, the principles contained in Sec. 1.652(b)-1 shall apply.