HomeDefinitionsCompareDebt Gift taxThe financial definition for Gift tax:A tax assessed on the giver of a property or asset as a gift. A $10,000 federal gift tax exemption exists per recipient. See: Gift splitting. Similar MatchesFederal gift taxFederal gift taxA federal tax imposed on assets conveyed as gifts to individuals. Gift inter vivosGift inter vivosA piece of property or asset given from one living person to another. Gift splittingGift splittingA technique used to avoid a gift tax in which a large sum of money to be given by two parents to a child is halved and given to the child separately For example, a husband and wife each donate $10,000 to their child rather than one parent donating $20,000. Further SuggestionsUniform Gifts to Minors Act (UGMA)Click to compare definitions of Gift tax Click to view definitions beginning gi |