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therein, the entire amount of that income should remain with the
estate.22
Section 662(a)(2)(B) does not exclusively govern all
transfers by a decedent’s estate that are not otherwise governed
by section 662(a)(1) and section 662(a)(2)(A) as income required
to be distributed currently. Second tier distributions do not
include interests in joint tenancies, income derived therefrom,
transfers at decedent’s death of title to real property, or
payments in satisfaction of statutory dower, all of which share a
number of legal and economic characteristics. In Rev. Rul. 64-
101, 1964-1 C.B.(Part 1) 77, the Commissioner has conceded that
statutory dower is properly excluded from second tier
distributions under the 1954 Code, just as payments for statutory
forced shares were excluded from distributions of estate income
under the 1939 Code and earlier revenue acts.23 The same must
hold true of petitioner’s Florida elective share.
22 When more than one person has dealings or interests with
respect to an item of income, the relative interests must be
weighed, and the item attributed to the person whose relationship
thereto is most significant for income tax purposes. The Code
does not allocate income between such persons on some ratio
derived from the importance of their various interests. This
basic principle was first articulated in American Law Institute
Tentative Draft No. 1, 8-11, Apr. 15, 1949, a major departure
point for what eventually was enacted as the 1954 Code. See also
Surrey & Warren, Federal Income Taxation 956 (1960).
23 See supra note 20 and accompanying text.
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