" ... discusses the definition of "taxable gift" and analyzes when a transfer subject to the gift tax occurs. Donative intent on the part of the transferor is not required for the transfer to be a taxable gift; instead, an objective test of whether there was sufficient consideration for the transfer is determinative. In addition to direct gifts of property, transfers in trust, and transfers of real, personal, tangible, and intangible property, the gift tax attaches to indirect gifts, such as the payment of another's expenses (except for certain tuition and medical expenses) and interest-free loans."
Formerly published in Washington, D.C., 2005-2007. Title from title screen (viewed May 17, 2013).
Bibliography, etc. Note
Includes bibliographical references.
Formatted Contents Note
Detailed analysis. Overview of federal gift tax Persons subject to gift tax Definition of taxable gift Completion of a gift: relinquishment of dominion and control over transferred property Transfers involving married persons Exercise or release of power of appointment as gift Valuation of gifts Disclaimers Gift tax exclusions Gift tax deductions Effect of gift tax treaty Computation of gift tax Returns and payment of gift tax Income tax consequences associated with gift transfers Planning considerations Working papers.
Digital File Characteristics
System Details Note
Mode of access: World Wide Web.