SIXTY-EIGHTH CONGRESS. Sess. I. Ch. 234. 1924. 315 (4) An amount equal to the value of any property transferred by Wugigf ;,g¤~mmv_ ift within the calendar year, which can be identified (A) as havin ea by donor within geen received by the donor within Eve years prior to the time of 2Y,§,y,,°§[,§llf.{,§‘,',*f,;,‘§,'?" his making such gift, either from another person by gift or from a decedent by (gift, bequest, devise, or inheritance, or (B) as having _ been acquire in exchange for property so received. This deduction zhéixdllistiilinigeiilylfelf shall be allowed only where a gift tax or an estate tax under this "*°“S1"°‘d· or any prior act of Congress was paid by or on behalf of the donor or the estate of such decedent, as the case may be, and only in the amount of the value placed by the Commissioner on such property in determining the value of the gift or the gross estate ummm! of such decedent, and only to the extent that the value of such ` property is included in the total amount of gifts made within the calendar year and not deducted under paragraph (2) or (3) of · this subdivision. (bg githe case of g nqpres¥·lent— b h h 1I‘~f¤¤r¤¤:,<;¤¤¢¤·%gi 1 e amoimt o a gi s or contri utions made wit in the °’}’n.p“¤,,°S·?° €’“S· calendar year to or for the use of the United States, any State, gtgiigs- i m mm Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any domestic corporation organized and operated exclusively for reli ions, charitab e, scientific, literary, 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 inures to the benefit of any private stockholder or individual, or to a trustee or trustees, or fraternal society, order, or association, operating under the lodge system, but only if such gifts or contributions are to be C°”dm°°°` used within the United States by such trustee or trustees or by such fraternal society, order, or association, exclusively for rehgious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals, and the amount of all gifts or contributions made within the calendar year by such corporation, trustee, or fraternal society, order, or association for a religious, charitable, scientific, literary, or educational purpose, or for the prevention of cruelty to children or animals, and the amount of all gifts or contributions made within the calendar year to the m‘{_gg¤,°{:n*g' *°¤¤**'“· special fund for vocational rehabilitation authorized by section 7 of v¤1.4o.pZm. t e Vocational Rehabilitation Act; (2) Gifts the aggregate amount of which to any one person does ,0*;*3: ;,gg°,{l‘¤¤ *"’° ucl cfcgld $500; al h l f ted h W Km ‘ 3 namount u tot evaueo any ro rtysitua inte '°°° '°F“‘ United States tranfisllerred by gift within tlie clilendar year, which gi*eggsr;1li1;hiflf;€d2 can be identified (A) as havin been received by the donor within fm"' °"°°h°' ”°”°"' five years prior to the time og his making suc gift, either from another person by gift or from a decedent by gift, bequest, devise, or inheritance, or (B) as having been acquired in exchange for _ property so receive . This deduction shall be allowed only where mg“,°§:°,‘}a,§“,§§e,}‘,f,€§ a gift tax or an estate tax under this or any prior act of Con ess vi¤¤=¤r1>¤i¤· was paid by or on behalf of the donor or the estate of such deceggnt, as the case may be, and only in the amount of the value laced by the Commissioner on such property in determining the value of the gift or the gross estate of such decedent, and onl to the extent that the value of such propert is included within the total amount of (gifts made within the calendar year of property situated in the United States and not deducted under paragraph (1) or (2) of this subdivision. Sec. 322. In case a tax has been imposed under section 319 upon ¤_}‘,;",,,d*m*?_g"g,g,,,‘°,§ any gift, and thereafter upon the death of the donor the amount *¢·.¤¤·>¤ ¤¤*¤ thereof is recgliired by any provision of Part I of this title to be ' mcluded in e gross estate of the decedent then there shall be
