26 U.S.C. § 2512
Valuation of gifts
If the gift is made in property, the value thereof at the date of the gift shall be considered the amount of the gift.
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.
Source: view the official text
Cited by 7
- 26 CFR § 25.2511-1 — Transfers in general.
- 26 CFR § 25.2512-0 — Table of contents.
- 26 CFR § 25.2512-1 — Valuation of property; in general.
- 26 CFR § 25.2523(e)-1 — Marital deduction; life estate with power of appointment in donee spouse.
- 26 CFR § 25.2523(f)-1 — Election with respect to life estate transferred to donee spouse.
- 26 CFR § 25.6001-1 — Records required to be kept.
- 26 CFR § 28.2801-4 — Liability for and payment of tax on covered gifts and covered bequests; computation of tax.
Nearby sections (25 sections)
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- 2207A · Right of recovery in the case of certain marital deduction…
- 2207B · Right of recovery where decedent retained interest
- 2208 · Certain residents of possessions considered citizens of the…
- 2209 · Certain residents of possessions considered nonresidents not…
- 2210 · Repealed. Pub. L. 111–312, title III, § 301(a), Dec. 17, 2010,…
- 2501 · Imposition of tax
- 2502 · Rate of tax
- 2503 · Taxable gifts
- 2504 · Taxable gifts for preceding calendar periods
- 2505 · Unified credit against gift tax
- 2511 · Transfers in general
- 2512 · Valuation of gifts
- 2513 · Gift by husband or wife to third party
- 2514 · Powers of appointment
- 2515 · Treatment of generation-skipping transfer tax
- 2515A · Repealed. Pub. L. 97–34, title IV, § 403(c)(3)(B), Aug. 13,…
- 2516 · Certain property settlements
- 2517 · Repealed. Pub. L. 99–514, title XVIII, § 1852(e)(2)(A), Oct. 22,…
- 2518 · Disclaimers
- 2519 · Dispositions of certain life estates
- 2521 · Repealed. Pub. L. 94–455, title XX, § 2001(b)(3), Oct. 4, 1976,…
- 2522 · Charitable and similar gifts
- 2523 · Gift to spouse
- 2524 · Extent of deductions