Internal Revenue Code · 26 U.S.C.
§ 2054. Losses
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 2054
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Length
- 64 words · about 1 min to read
- Cross-references
- cites 1; cited by 3 Code sections and 8 other regulations
- Regulations
- 1 issued under this section
For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate losses incurred during the settlement of estates arising from fires, storms, shipwrecks, or other casualties, or from theft, when such losses are not compensated for by insurance or otherwise.
(Aug. 16, 1954, ch. 736, 68A Stat. 390.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 2054
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited by 3 Code sections
- § 2013(c)(1)(B) Credit for tax on prior transfers
- § 2053(c)(2) Expenses, indebtedness, and taxes
- § 2106(a)(1) Taxable estate
Cited in 8 regulations not issued under it
- § 1.165-7 Casualty losses.
- § 1.165-8 Theft losses.
- § 1.642(g)-1 Disallowance of double deductions; in general.
- § 20.2032-1 Alternate valuation.
- § 20.2051-1 Definition of taxable estate.
- § 20.2053-1 Deductions for expenses, indebtedness, and taxes; in general.
- § 20.2056(a)-2 Marital deduction; “deductible interests” and “nondeductible interests”.
- § 20.6163-1 Extension of time for payment of estate tax on value of reversionary or remainder interest in property.
Where it sits in the Code
- Subtitle B Estate and Gift Taxes
- Chapter 11 ESTATE TAX
- Subchapter A Estates of Citizens or Residents
- Part IV TAXABLE ESTATE