gift splitting

gift splitting definition - business

gift splitting

A gift of property by one spouse of a marriage that is treated as being gifted equally by both spouses. For example, a married woman can give $18,000 to a grandchild and elect to have the gift treated as $9,000 each from her and her husband.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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