taxable distribution
Defined in 2 places of the United States Code.
For purposes of this chapter, the term “taxable distribution” means any distribution from a trust to a skip person (other than a taxable termination or a direct skip).
Source
- 1994–present26 U.S.C. § 2612Internal Revenue Code · Taxable termination; taxable distribution; direct skip · for purposes of this chapter
The term “taxable distribution” means any distribution from a donor advised fund—
(A) to any natural person, or
(B) to any other person if—
(i) such distribution is for any purpose other than one specified in section 170(c)(2)(B), or
(ii) the sponsoring organization does not exercise expenditure responsibility with respect to such distribution in accordance with section 4945(h).
Source
- 2006–present26 U.S.C. § 4966Internal Revenue Code · Taxes on taxable distributions · for purposes of this section