split gift

split gift definition - business

split gift

A gift from one partner in a marriage to someone outside the marriage when one-half of the gift is assumed by law to have been made by each spouse. A split gift permits the annual gift tax exclusion per recipient to effectively be doubled when the gift originates from a married couple.

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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