Collapse to view only [§ 682. Repealed.

§ 681. Limitation on charitable deduction
(a) Trade or business income
(b) Cross reference
(Aug. 16, 1954, ch. 736, 68A Stat. 232; Pub. L. 90–630, § 6(b), Oct. 22, 1968, 82 Stat. 1330; Pub. L. 91–172, title I, §§ 101(j)(18), (19), 121(d)(2)(B), Dec. 30, 1969, 83 Stat. 528, 547.)
[§ 682. Repealed. Pub. L. 115–97, title I, § 11051(b)(1)(C), Dec. 22, 2017, 131 Stat. 2089]
§ 683. Use of trust as an exchange fund
(a) General rule
(b) Exception for pooled income funds
(Aug. 16, 1954, ch. 736, 68A Stat. 235; Pub. L. 94–455, title XXI, § 2131(e)(1), Oct. 4, 1976, 90 Stat. 1924.)
§ 684. Recognition of gain on certain transfers to certain foreign trusts and estates
(a) In general
(1) the fair market value of the property so transferred, over
(2) the adjusted basis (for purposes of determining gain) of such property in the hands of the transferor.
(b) Exception
(c) Treatment of trusts which become foreign trusts
(Added Pub. L. 105–34, title XI, § 1131(b), Aug. 5, 1997, 111 Stat. 978; amended Pub. L. 107–16, title V, § 542(e)(1)(A)–(C), June 7, 2001, 115 Stat. 84, 85; Pub. L. 111–312, title III, § 301(a), Dec. 17, 2010, 124 Stat. 3300.)
§ 685. Treatment of funeral trusts
(a) In general
In the case of a qualified funeral trust—
(1) subparts B, C, D, and E shall not apply, and
(2) no deduction shall be allowed by section 642(b).
(b) Qualified funeral trust
For purposes of this subsection, the term “qualified funeral trust” means any trust (other than a foreign trust) if—
(1) the trust arises as a result of a contract with a person engaged in the trade or business of providing funeral or burial services or property necessary to provide such services,
(2) the sole purpose of the trust is to hold, invest, and reinvest funds in the trust and to use such funds solely to make payments for such services or property for the benefit of the beneficiaries of the trust,
(3) the only beneficiaries of such trust are individuals with respect to whom such services or property are to be provided at their death under contracts described in paragraph (1),
(4) the only contributions to the trust are contributions by or for the benefit of such beneficiaries,
(5) the trustee elects the application of this subsection, and
(6) the trust would (but for the election described in paragraph (5)) be treated as owned under subpart E by the purchasers of the contracts described in paragraph (1).
A trust shall not fail to be treated as meeting the requirement of paragraph (6) by reason of the death of an individual but only during the 60-day period beginning on the date of such death.
(c) Application of rate schedule
(d) Treatment of amounts refunded to purchaser on cancellation
(e) Simplified reporting
(Added Pub. L. 105–34, title XIII, § 1309(a), Aug. 5, 1997, 111 Stat. 1042; amended Pub. L. 105–206, title VI, § 6013(b), July 22, 1998, 112 Stat. 820; Pub. L. 110–317, § 9(a), (b), Aug. 29, 2008, 122 Stat. 3530.)