Individual treated as interest hold- er Sample Clauses

Individual treated as interest hold- er. (i) In general. If a taxable event in- volves the transfer of a qualified pay- ment interest by the interest holder (or an individual treated as the interest holder) to an applicable family member of the individual who made the transfer to which section 2701 applied (other than the spouse of the individual trans- ferring the qualified payment interest), the transferee applicable family mem- ber is treated in the same manner as the interest holder with respect to late or unpaid qualified payments first due after the taxable event. Thus, for ex- ample, if an interest holder transfers during life a qualified payment interest to an applicable family member, that transfer is a taxable event with respect to the interest holder whose taxable gifts are increased for the year of the transfer as provided in paragraph (c) of this section. The transferee is treated thereafter in the same manner as the interest holder with respect to late or unpaid qualified payments first due after the taxable event.
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