Labels:book | reckoner | sky | tree OCR: RA6 result of the enactment of the 1954 Code and may be summarized as follows: (1)The regulations relating to the disallowance of the $3,000 exclusion with respect to gifts of future interests property proposed under section 2503 reflect two important changes made the 1954 Code First where there has been transfer any person + present interest ir property (such income for life) the possibility that the interest may be diminished the exercise power will not cause disallowance the exclusion Te part OF the intetest will at any time pass other Secondly. property transferred for th benefit 1U miror qualifies present interest specified conditions set forth T Code ate satisfied (2)The regulations proposed under section 2504 reflect the change made section 2504{c} of the 1954 Code which places limi ...
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