taxable gift
A gift that, after adjusting for the annual exclusion and applicable deductions, is subject to the federal unified transfer tax. IRC (26 USCA) § 2503. [Cases: Internal Revenue 4203.10, 4206.10. C.J.S. Internal Revenue §§ 559, 566–568.]
A gift that, after adjusting for the annual exclusion and applicable deductions, is subject to the federal unified transfer tax. IRC (26 USCA) § 2503. [Cases: Internal Revenue 4203.10, 4206.10. C.J.S. Internal Revenue §§ 559, 566–568.]