Home > Term: gift splitting
gift splitting
A technique used to avoid a gift tax in which a large sum of money to be given by two parents to a child is halved and given to the child separately For example, a husband and wife each donate $10,000 to their child rather than one parent donating $20,000.
- Part of Speech: noun
- Industry/Domain: Financial services
- Category: General Finance
- Company: Bloomberg
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Creator
- Jessehe
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