Page:United States Statutes at Large Volume 68A.djvu/454

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INTERNAL REVENUE CODE OF 1954

(as of such time) of such separate property so acquired by such spouse is of the value (as of such time) of the separate property so acquired by the donor. SEC. 2524. EXTENT OF DEDUCTIONS. The deductions provided in sections 2522 and 2523 shall be allowed only to the extent that the gifts therein specified are included in the amount of gifts against which such deductions are applied.

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§ 2523(f)(4)

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