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split gift

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Financial Dictionary

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 $10,000 annual gift tax exclusion per recipient to effectively be $20,000 per recipient when the gift originates from a married couple.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: split gift
see GIFT
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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