§ 2512. Valuation of gifts
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/usc/title-26/section-2512A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)If the gift is made in property, the value thereof at the date of the gift shall be considered the amount of the gift.
(b)Where property is transferred for less than an adequate and full consideration in money or money’s worth, then the amount by which the value of the property exceeded the value of the consideration shall be deemed a gift, and shall be included in computing the amount of gifts made during the calendar year.
(c)Cross reference For individual’s right to be furnished on request a statement regarding any valuation made by the Secretary of a gift by that individual, see section 7517.
(Aug. 16, 1954, ch. 736, 68A Stat. 406; Pub. L. 91–614, title I, § 102(b)(1), Dec. 31, 1970, 84 Stat. 1840; Pub. L. 94–455, title XX, § 2008(a)(2)(B), Oct. 4, 1976, 90 Stat. 1891; Pub. L. 97–34, title IV, § 442(b)(1), Aug. 13, 1981, 95 Stat. 322.)
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Cited by 3 sections
statutes-at-large
- Public Law 91–614
- Public Law 97–34To amend the Internal Revenue Code of 1954 to encourage economic growth through reduction of the tax rates for individual taxpayers, acceleration of capital cost recovery of investment in plant, equipment, and real property, and incentives for savings, and for other purposes
- Public Law 94–455To reform the tax laws of the United States
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U.S. Code
13 references not yet in our index
- Aug. 16, 1954, ch. 736
- 68A Stat. 406
- Pub. L. 91–614, title I, § 102(b)(1)
- 84 Stat. 1840
- Pub. L. 94–455, title XX, § 2008(a)(2)(B)
- 90 Stat. 1891
- Pub. L. 97–34, title IV, § 442(b)(1)
- 95 Stat. 322
- Pub. L. 97–34
- Pub. L. 94–455
- Pub. L. 91–614
- section 442(e) of Pub. L. 97–34
- section 102(e) of Pub. L. 91–614
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§ 2512
Valuation of gifts
Stat.×3
ActAug. 16, 1954, ch. 736
Stat.68A Stat. 406
Pub. L.Pub. L. 91–614, title I, § 102(b)(1)
Stat.84 Stat. 1840
Pub. L.Pub. L. 94–455, title XX, § 2008(a)(2)(B)
Cites 14 · showing 6Cited by 3 across 1 source