Gift Tax 2


Definition of "Gift tax"

Paul Conti
Paul Conti Paul Conti Real Estate Inc

Tax, under federal and state laws, on transfer of property made without payment or other value in exchange.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Minor

Trust whereby asset management is provided until a child reaches the age of majority. Upon reaching majority, the child has full use and control over ...

Generation Skipping Transfer Taxes

Provision under the Internal Revenue Code, Chapter 13, that specifies a transfer tax of 55% of the gift to a person at least two generations younger t ...

Crummey Trust

Unfunded trust that acts as the owner of a life insurance policy. The trust receives a donor's cash payments on a periodic basis, from which the benef ...

Grantor-retained Income Trust (grit)

Irrevocable trust into which the grantor places assets and retains the income from or the use of these assets for a stipulated period of time. At the ...

Marital Deduction

Tax deduction permitted upon the transfer of property from one spouse to another. The deduction is allowed under the federal gift tax for lifetime tra ...

Gift Tax Exclusion

Amount, not in excess of $10,000 per year, given to each of an unlimited number of donees free of federal estate tax and gift tax. Each individual can ...

Popular Real Estate FAQ

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

4 Effective Ways to Market Real Estate to Millennials When to Dispute Your Home Appraisal Large Real Estate Companies vs Individual Agents or Small Companies How To Get A Loan with Bad Credit 5 Things Home Sellers Always Forget

FAQ

What is a front-end ratio? What is the Tax Benefits of Buying a Home? What is Disability Insurance? What is an overall debt ratio? What is an inspection?