Title 26, Part 25 — Gift Tax; Gifts Made After December 31, 1954

Introduction.

Right of recovery of gift taxes in the case of certain marital deduction property.

Effective date.

Imposition of tax.

Rate of tax.

Donor primarily liable for tax.

General definitions of “taxable gifts” and of “total amount of gifts.”

Exclusions from gifts.

Future interests in property.

Transfer for the benefit of a minor.

Exclusion for certain qualified transfer for tuition or medical expenses.

Taxable gifts for preceding calendar periods.

Determination of gifts for preceding calendar periods.

Table of contents.

Unified credit against gift tax; in general.

Gifts made by a surviving spouse having a DSUE amount available.

Transfers in general.

Cessation of donor's dominion and control.

Transfers by nonresidents not citizens.

Table of contents.

Valuation of property; in general.

Stocks and bonds.

Valuation of interest in businesses.

Valuation of notes.

Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests.

Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end investment company.

Effect of excise tax.

Transfers for insufficient consideration.

Gifts by husband or wife to third party considered as made one-half by each.

Manner and time of signifying consent.

Revocation of consent.

Joint and several liability for tax.

Transfers under power of appointment.

Powers of appointment created on or before October 21, 1942.

Powers of appointment created after October 21, 1942.

Tenancies by the entirety; in general.

Tenancies by the entirety; transfers treated as gifts; manner of election and valuation.

Termination of tenancy by the entirety; cases in which entire value of gift is determined under section 2515(b).

Termination of tenancy by entirety; cases in which none, or a portion only, of value of gift is determined under section 2515(b).

Certain property settlements.

Transfers in settlement of support obligations.

Qualified disclaimers of property; in general.

Requirements for a qualified disclaimer.

Disclaimer of less than an entire interest.

Valuation of annuities, interests for life or a term of years, and remainder or reversionary interests transferred before June 1, 2023.

Dispositions of certain life estates.

Effective date.

Specific exemption.

Charitable and similar gifts; citizens or residents.

Charitable and similar gifts; nonresidents not citizens.

Disallowance of charitable, etc., deductions because of “prohibited transactions” in the case of gifts made before January 1, 1970.

Disallowance of charitable, etc., deductions in the case of gifts made after December 31, 1969.

Transfers not exclusively for charitable, etc., purposes in the case of gifts made after July 31, 1969.

Disallowance of double deduction in the case of qualified terminable interest property.

Additional cross references.

Gift to spouse; in general.

Life estate or other terminable interest.

Interest in unidentified assets.

Joint interests.

Marital deduction; life estate with power of appointment in donee spouse.

Election with respect to life estate transferred to donee spouse.

Special rule for charitable remainder trusts.

Denial of double deduction.

Effective dates.

Disallowance of marital deduction when spouse is not a United States citizen.

Treatment of spousal joint tenancy property where one spouse is not a United States citizen.

Effective date.

Extent of deductions.

Special rule applicable to community property transferred prior to January 1, 1982.

Table of contents.

Special valuation rules in the case of transfers of certain interests in corporations and partnerships.

Special valuation rules for applicable retained interests.

Determination of amount of gift.

Accumulated qualified payments.

Adjustments to mitigate double taxation.

Indirect holding of interests.

Separate interests.

Effective dates.

Table of contents.

Special valuation rules in the case of transfers of interests in trust.

Definitions and valuation rules.

Qualified interests.

Certain property treated as held in trust.

Personal residence trusts.

Reduction in taxable gifts.

Effective dates.

Property subject to restrictive arrangements.

Effective date.

Lapse of certain rights.

Transfers subject to applicable restrictions.

Effective date.

Records required to be kept.

General requirement of return, statement, or list.

Requirement of statement disclosing participation in certain transactions by taxpayers.

Persons required to file returns.

Returns required in case of consent under section 2513.

Contents of return.

Description of property listed on return.

Reporting requirements for tax return preparers.

Signing of returns and other documents.

Verification of returns.

Returns, time for filing gift tax returns for gifts made after December 31, 1981.

Returns; time for filing gift tax returns for gifts made after December 31, 1976, and before January 1, 1982.

Automatic extension of time for filing gift tax returns.

Place for filing returns and other documents.

Exceptional cases.

Tax return preparer must furnish copy of return to taxpayer and must retain a copy or record.

Tax return preparers furnishing identifying numbers for returns or claims for refund.

Time and place for paying tax shown on return.

Extension of time for paying tax or deficiency.

Bonds where time to pay tax or deficiency has been extended.

Voluntary payments of gift taxes by electronic funds transfer.

Lien for taxes.

Validity and priority against certain persons.

Special lien for gift tax.

Interest on underpayment, nonpayment, or extensions of time for payment, of tax.

Section 6694 penalties applicable to tax return preparer.

Penalties for understatement due to an unreasonable position.

Penalty for understatement due to willful, reckless, or intentional conduct.

Extension of period of collection when tax return preparer pays 15 percent of a penalty for understatement of taxpayer's liability and certain other procedural matters.

Other assessable penalties with respect to the preparation of tax returns for other persons.

Claims for credit or refund by tax return preparers.

Discharge of executor from personal liability for decedent's income and gift taxes.

Form of bonds.

Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder or reversionary interests.

Valuation of charitable interests.

Limitation on the application of section 7520.

Transitional rules.

Tax return preparer.

Definitions; spouse, husband and wife, husband, wife, marriage.