Source: https://www.law.cornell.edu/cfr/text/26/25.2503-1
Timestamp: 2017-01-21 00:42:22
Document Index: 57595071

Matched Legal Cases: ['art 25', '§ 25', '§ 25', '§ 25', '§ 25', 'art 25']

26 CFR 25.2503-1 - General definitions of “taxable gifts” and of “total amount of gifts.” | US Law | LII / Legal Information Institute
CFR › Title 26 › Chapter I › Subchapter B › Part 25 › Section 25.2503-1 26 CFR 25.2503-1 - General definitions of “taxable gifts” and of “total amount of gifts.”
§ 25.2503-1 General definitions of “taxable gifts” and of “total amount of gifts.”
The term taxable gifts means the “total amount of gifts” made by the donor during the “calendar period” (as defined in § 25.2502-1(c)(1)) less the deductions provided for in sections 2521 (as in effect before its repeal by the Tax Reform Act of 1976), 2522, and 2523 (specific exemption, charitable, etc., gifts and the marital deduction, respectively). The term “total amount of gifts” means the sum of the values of the gifts made during the calendar period less the amounts excludable under section 2503(b). See § 25.2503-2. The entire value of any gift of a future interest in property must be included in the total amount of gifts for the calendar period in which the gift is made. See § 25.2503-3.
Title 26 published on 2015-04-01The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 26 CFR Part 25 after this date.2016-09-02; vol. 81 # 171 - Friday, September 2, 201681 FR 60609 - Definition of Terms Relating to Marital Status