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► 26 U.S.C. § 2512 26 u.s.c. · gift tax · title 26
26 U.S.C. § 2512
Valuation of gifts
Title 26 USC
● ACTIVE
Ch. 12
Jurisdiction Federal — United States
Chapter GIFT TAX
Primary Source uscode.house.gov ↗
Federation ID OM-USC26-SEC-F88642
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2023 Edition Title 26 - INTERNAL REVENUE CODE Subtitle B - Estate and Gift Taxes CHAPTER 12 - GIFT TAX Subchapter B - Transfers Sec. 2512 - Valuation of gifts From the U.S. Government Publishing Office, www.gpo.gov

§2512. Valuation of gifts

(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.)

Editorial Notes

Amendments 1981—Subsec. (b). Pub. L. 97–34 substituted "calendar year" for "calendar quarters". 1976—Subsec. (c). Pub. L. 94–455 added subsec. (c). 1970—Subsec. (b). Pub. L. 91–614 substituted "calendar quarter" for "calendar year".

Statutory Notes and Related Subsidiaries

Effective Date of 1981 Amendment Amendment by Pub. L. 97–34 applicable with respect to gifts made after Dec. 31, 1981, see section 442(e) of Pub. L. 97–34, set out as a note under section 2501 of this title. Effective Date of 1970 Amendment Amendment by Pub. L. 91–614 applicable with respect to gifts made after Dec. 31, 1970, see section 102(e) of Pub. L. 91–614, set out as a note under section 2501 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 26 U.S.C. § 2512 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 26 U.S.C. § 2511 26 U.S.C. § 2513 →
Chapter 12 — GIFT TAX
26 U.S.C. § 250126 U.S.C. § 250226 U.S.C. § 250326 U.S.C. § 250426 U.S.C. § 250526 U.S.C. § 251126 U.S.C. § 251226 U.S.C. § 251326 U.S.C. § 251426 U.S.C. § 251526 U.S.C. § 2515A26 U.S.C. § 251626 U.S.C. § 251726 U.S.C. § 251826 U.S.C. § 251926 U.S.C. § 252126 U.S.C. § 252226 U.S.C. § 252326 U.S.C. § 2524
26 U.S.C. — public domain ← All Legislation
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26 U.S.C.
Citation
26 U.S.C. § 2512
Status
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Chapter
12 — GIFT TAX
Title
Internal Revenue Code
Jurisdiction
Federal
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OM-USC26-SEC-F88642
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Internal Revenue Code — 26 U.S.C. § 2512