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Glossary > F > "Federal gift tax" Definition

Federal gift tax

In the US, a federal tax levied on gifted property, money or securities. The tax is payable by the donor and based on fair market value of the gift. A parent or parents making gifts to children are allowed to make transfers up to a specified amount without paying tax.

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Federal gift tax - In the US, a federal tax levied on gifted property, money or securities. The tax is payable by the donor and based on fair market value of the gift. A parent or parents making gifts to children are allowed to make transfers up to a specified amount without paying tax.

Federal gift tax : in the us, a federal tax levied on gifted property, money or securities. the tax is payable by the donor and based on fair market value of the gift. a parent or parents making gifts to children are allowed to make transfers up to a specified amount without paying tax.