nontax portion
Defined in 1 place of the United States Code.
For purposes of paragraph (2), the term “nontax portion” means the product of—
(A) the value of all of the property in the trust, and
(B) the applicable fraction in effect for such trust.
Source
- 1994–present26 U.S.C. § 2642Internal Revenue Code · Inclusion ratio · for purposes of this chapter