Gift Splitting Election

What is Gift Splitting Election?

A definition of gift splitting election is: A special election for Federal gift tax purposes whereby husband and wife can treat a gift by one of them to a third party as being made one-half by each. More details on the Encyclopedia. The major advantage of the election is that it enables the parties to take advantage of the nonowner spouse’s annual exclusion and unified credit. More details on the Encyclopedia. I. More details on the Encyclopedia.R. More details on the Encyclopedia.C. More details on the Encyclopedia. § 2513.[1]

Resources

Notes

1. “Gift Splitting Election” in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)

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