26 CFR 25.2512-8 - Transfers for insufficient consideration. | Title 26 - Internal Revenue | Code of Federal Regulations

§ 25.2512-8

Transfers for insufficient consideration.

Transfers reached by the gift tax are not confined to those only which, being without a valuable consideration, accord with the common law concept of gifts, but embrace as well sales, exchanges, and other dispositions of property for a consideration to the extent that the value of the property transferred by the donor exceeds the value in money or money's worth of the consideration given therefor. However, a sale, exchange, or other transfer of property made in the ordinary course of business (a transaction which is bona fide, at arm's length, and free from any donative intent), will be considered as made for an adequate and full consideration in money or money's worth. A consideration not reducible to a value in money or money's worth, as love and affection, promise of marriage, etc., is to be wholly disregarded, and the entire value of the property transferred constitutes the amount of the gift. Similarly, a relinquishment or promised relinquishment of dower or curtesy, or of a statutory estate created in lieu of dower or curtesy, or of other marital rights in the spouse's property or estate, shall not be considered to any extent a consideration “in money or money's worth.” See, however, section 2516 and the regulations thereunder with respect to certain transfers incident to a divorce. See also sections 2701, 2702, 2703 and 2704 and the regulations at §§ 25.2701-0 through 25.2704-3 for special rules for valuing transfers of business interests, transfers in trust, and transfers pursuant to options and purchase agreements.

[T.D. 6334, 23 FR 8904, Nov. 15, 1958; 25 FR 14021, Dec. 31, 1960; as amended by T.D. 8395, 57 FR 4255, Feb. 4, 1992]

Title 26 published on 2012-04-01

The following are only the Rules published in the Federal Register after the published date of Title 26.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

2012-06-18; vol. 77 # 117 - Monday, June 18, 2012

77 FR 36150 - Portability of a Deceased Spousal Unused Exclusion Amount

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-14781
RIN	1545-BK34
TD	9593

DEPARTMENT OF THE TREASURY, Internal Revenue Service

Temporary regulations.

Effective Date. These regulations are effective on June 15, 2012. Applicability Dates: Sections of the temporary regulation relating to portability of a deceased spousal unused exclusion amount apply to estates of decedents dying on or after January 1, 2011. For specific dates of applicability, see §§ 20.2001-2T(b), 20.2010-1T(e), 20.2010-2T(e), 20.2010-3T(f), 25.2505-1T(e), and 25.2505-2T(g).

26 CFR Parts 20, 25, and 602

Summary

This document contains temporary regulations that provide guidance on the estate and gift tax applicable exclusion amount, in general, as well as on the applicable requirements for electing portability of a deceased spousal unused exclusion (DSUE) amount to the surviving spouse and on the applicable rules for the surviving spouse's use of this DSUE amount. The statutory provisions underlying the portability rules were enacted as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The portability rules affect married spouses where the death of the first spouse to die occurs on or after January 1, 2011. The text of the temporary regulations also serves as the text of proposed regulations set forth in the notice of proposed rulemaking on this subject appearing elsewhere in this issue of the Federal Register .

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code

USC: Title 26a

§ 7520

Title 26 published on 2012-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 26 CFR 25 after this date.

2012-10-05; vol. 77 # 194 - Friday, October 5, 2012

77 FR 60960 - Portability of a Deceased Spousal Unused Exclusion Amount; Hearing Cancellation

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-24667
RIN	1545-BK74
	REG-141832-11

DEPARTMENT OF THE TREASURY, Internal Revenue Service

Cancellation of notice of public hearing on proposed rulemaking.

The public hearing originally scheduled for October 18, 2012 at 10 a.m. is cancelled.

26 CFR Parts 20 and 25

Summary

This document cancels a public hearing on proposed regulations under sections 2001, 2010, and 2505 of the Internal Revenue Code; that provide guidance on the estate and gift tax applicable exclusion amount.

2012-06-18; vol. 77 # 117 - Monday, June 18, 2012

77 FR 36150 - Portability of a Deceased Spousal Unused Exclusion Amount

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-14781
RIN	1545-BK34
TD	9593

DEPARTMENT OF THE TREASURY, Internal Revenue Service

Temporary regulations.

Effective Date. These regulations are effective on June 15, 2012. Applicability Dates: Sections of the temporary regulation relating to portability of a deceased spousal unused exclusion amount apply to estates of decedents dying on or after January 1, 2011. For specific dates of applicability, see §§ 20.2001-2T(b), 20.2010-1T(e), 20.2010-2T(e), 20.2010-3T(f), 25.2505-1T(e), and 25.2505-2T(g).

26 CFR Parts 20, 25, and 602

Summary

This document contains temporary regulations that provide guidance on the estate and gift tax applicable exclusion amount, in general, as well as on the applicable requirements for electing portability of a deceased spousal unused exclusion (DSUE) amount to the surviving spouse and on the applicable rules for the surviving spouse's use of this DSUE amount. The statutory provisions underlying the portability rules were enacted as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The portability rules affect married spouses where the death of the first spouse to die occurs on or after January 1, 2011. The text of the temporary regulations also serves as the text of proposed regulations set forth in the notice of proposed rulemaking on this subject appearing elsewhere in this issue of the Federal Register .

77 FR 36229 - Portability of a Deceased Spousal Unused Exclusion Amount

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-14775
RIN	1545-BK74
	REG-141832-11

DEPARTMENT OF THE TREASURY, Internal Revenue Service

Notice of proposed rulemaking by cross-reference to temporary regulations and notice of public hearing.

Written or electronic comments must be received by September 17, 2012. Outlines of topics to be discussed at the public hearing scheduled for October 18, 2012, at 10 a.m., must be received by September 27, 2012.

26 CFR Parts 20 and 25

Summary

In the Rules and Regulations section of this issue of the Federal Register , the IRS is issuing temporary regulations that provide guidance on the estate and gift tax applicable exclusion amount, in general, as well as on the applicable requirements for electing portability of a deceased spousal unused exclusion (DSUE) amount to the surviving spouse and on the applicable rules for the surviving spouse's use of this DSUE amount. The text of the temporary regulations also serves as the text of the proposed regulations set forth in this notice of proposed rulemaking. This document also provides a notice of public hearing on these proposed regulations.

26 CFR 25.2512-8 - Transfers for insufficient consideration.

CFR Toolbox

Law about... Articles from Wex

Get Involved

Find a Lawyer