Inter vivos wealth transfers, 1997 gifts.

From: Statistics of Income. SOI Bulletin | Date: December 22, 2003| Author: Eller, Martha Britton | Copyright information

Like transfers of wealth at death, wealth transfers during life--called inter vivos wealth transfers--are subject to Federal taxation. Only gifts in excess of $10,000 were potentially taxable for Gift Year 1997. Because of this relatively high filing threshold, gift tax data extracted from Federal gift tax returns provide a glimpse into the economic behavior of predominantly wealthy Americans. Such behavior includes donors' transfers of money and other assets to gift recipients and...

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