split gift

Tax. A gift that is made by one spouse to a third person and that, for gift-tax purposes, both spouses treat as being made one-half by each spouse; a gift in which the spouses combine their annual gift-tax exclusions.

• A split gift, for example, is eligible for two annual exclusions of $10,000 each, or a total of $20,000 for one gift.

— Also termed gift-splitting; gift-splitting election. See annual exclusion under EXCLUSION. [Cases: Internal Revenue 4206.10. C.J.S. Internal Revenue §§ 566–568.]

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词条贡献者

译员蓉婧，欧洲知名商学院国际金融专业，专注翻译各种与美国证券法律有关的法律文件。