Treasury Regulations, Subchapter B, Sec. 26.2611-1
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Sec. 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.
