[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: 26CFR1.663(a)-2]

[Page 115]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.663(a)-2  Charitable, etc., distributions.

    Any amount paid, permanently set aside, or to be used for the 
charitable, etc., purposes specified in section 642(c) and which is 
allowable as a deduction under that section is not allowed as a 
deduction to an estate or trust under section 661 or treated as an 
amount distributed for purposes of determining the amounts includible in 
gross income of beneficiaries under section 662. Amounts paid, 
permanently set aside, or to be used for charitable, etc., purposes are 
deductible by estates or trusts only as provided in section 642(c). For 
purposes of this section, the deduction provided in section 642(c) is 
computed without regard to the provisions of section 508(d), section 
681, or section 4948(c)(4) (concerning unrelated business income and 
private foundations).

[T.D. 6500, 25 FR 11814, Nov. 26, 1960, as amended by T.D. 7428, 41 FR 
34627, Aug. 16, 1976]