Rev. & Tax. Code, § 24354 · Article 1. Deductions
Rev. & Tax. Code, § 24354
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in trust, the allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance with the pertinent provisions of the instrument creating the trust, or, in the absence of such provisions on the basis of the trust income allocable to each.
Notes and commentary — not statutory text
History
Added by Stats. 1959, Ch. 1127.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=24354.
- Text hash
- sha256 ff8f81862d98e163015ec399bac9fe95a1758524381fb9170f6cf753ed1cd1be
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 1 provision
Provisions in this library whose text cites Rev. & Tax. Code, § 24354. Each shows the citation as that text prints it.
Revenue and Taxation Code
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