306 SIXTY-EIGHTH CONGRESS. Sess. I. Ch. 234. 1924. me" m· the value of such property is included in the decedent’s gross estate and not deducted under paragraph (1) or (3) of this subdivision; p¤]i»i§?°ii=lfd<i¤i(=iQ’ei<ii (3) The amount of all beqjuests, legacies, devises, or transfers, P“’P°“‘· except bona fide sales for a fair consideration in money or money’s worth, in contemplation of or intended to take effect in possession or enjoyment at or after the decedent’s death,_to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, l1terary, or educational purposes, including the encouragement of art and the prevention of cruelty to children or animals, no part of the net earnings of which mures to the beneiit of any private stockholder or indivi ual, or to a trustee Common or trustees, or a fraternal society, order, or association operating ' under the lodge istem, but only if such contributions or gifts are to be used by suc trustee or trustees, or by such fraterna society, order, or association, exclusively for religious, charitable, scientific, I, m payable mm literary, or educational purposes, or for the prevention of cruelty to asauenme bequests, children or animals. If the tax imposed y section 301, or any ¥,§§";§{,i,,°§{f’°“°°° estate, succession, legacy, or inheritance taxes, are, either by the terms of the will, by the law of the jurisdiction under which the estate is administered, or by the law of the jurisdiction imposing the particular tax, patgable in whole or in part out of the bequests, legacies, or devises o erwise deductible under this paragraph, then the amount deductible under this pamgra h shall be the amount of such beqiéests, legacies, or devises reduces by the amount of such _ taxes; an nczixmptm M m' (4) An exemption of $50,000. · , g,,,]§°{,‘,‘€$§“Zf {EQ2} (b) In the case of a nonresident, by deducting from the value
- °¤*d°'¤“· of that part of his gross estate which at the time of his death is
,,1,,,,),,,,,,,,, 0, ,,d_ situated in the United States— rwécmisnmrion expenses. (1) That proportion of the deductions specified in paragraph ° (1) of subdivision (a) of this section which the value of such part L,m,m,0,,,S,0pm bears to the value of his entire gross estate, wherever situated, but in Uniwd sms. in no case shall the amount so deducted exceed 10 per centum of the value_of that part of his gross estate which at the time of his Pmpmy Mmm m death is situated m the United States; rama sam, received (2) An amount equal to the value of any property (A) forming '""“ ""°‘ d°°°"°“"’· n, part of the gross estate situated in the United States of any person who died wit in five years (prior to the death of the decedent, or (13) transferred to the dece ent by gift within five years prior to his death, where such property can be identified as having been received by the decedent from such donor by gift or from such prior decedent by gift, be<j:;st, devise, or inheritance, or which Remm, to pmp_ can be identified as avxng n acquired in exchange for property ggwopaxwlggn gt or so received. This deduction shall be allowed only where a gift tax ’ ‘ or an estate tax under this or any prior act of Congress was paid by or on behalf of the donor_ or the estate of such prior decedent as the case nray_ be, and only in the amount of the value placed by the Commissioner on suc property in determining the value of the gift or the gross estate of such prior decedent, and only to the extent that the value of such property is included in that part of thetldeciaydeigtg gposs estaée wthehdat tl? tiige of his death is situated in e me__aesan no eucte uner ara h 1 or 3 iggugtif _,,,c__ ,0, of this subdivision; and P gm? ( ) ( ) §,'{,pge,'§¤‘*§’ggSL;u§& (3) The amount of all bequests, legacies, devises, or transfers, mas. except bona fide sales for a fair consideration, in money or money’s worth, in contemplation of or intended to take effect in possession or enjoyment at or after the decedent’s death, to or for the use of the United States, any State, Territory, any political subdivision
