Code of Federal Regulations Title 26. Internal Revenue § 26.26.2611–1 Generation-skipping transfer defined

A generation-skipping transfer (GST) is an event that is either a direct skip, a taxable distribution, or a taxable termination. See § 26.2612–1 for the definition of these terms. The determination as to whether an event is a GST is made by reference to the most recent transfer subject to the estate or gift tax. See § 26.2652–1(a)(2) for determining whether a transfer is subject to Federal estate or gift tax.