[Code of Federal Regulations]
[Title 26, Volume 14]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR25.7520-4]

[Page 691]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 25_GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954--Table of Contents
 
Sec.  25.7520-4  Transitional rules.

    (a) Reliance. If the valuation date is after April 30, 1989, and 
before June 10, 1994, a donor can rely on Notice 89-24, 1989-1 C.B. 660, 
or Notice 89-60, 1989-1 C.B. 700 (See Sec.  601.601(d)(2)(ii)(b) of this 
chapter), in valuing the transferred interest.
    (b) Transfers in 1989. If a donor transferred an interest in 
property by gift after December 31, 1988, and before May 1, 1989, 
retaining an interest in the same property and, after April 30, 1989, 
and before January 1, 1990, transferred the retained interest in the 
property, the donor may, at the donor's option, value the transfer of 
the retained interest under either Sec.  25.2512-5(d) or Sec.  25.2512-
5A(d).
    (c) Effective date. This section is effective as of May 1, 1989.

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