Taxable Gift

What is Taxable Gift?

A transfer of property that is both voluntary and complete by an individual for less than an adequate and full consideration in money or money's worth. When property interests are given away during life they are likely to be a taxable gift unless exempted or excluded by law.

Further Reading

For more detailed information, see our related Wills Trusts And Estates terms:

• Reversionary Interest
• Lucid Interval
• Trust Corpus
• Gift Tax

Reviewed by

Stephanie Bagnall

Licensed Attorney and Legal Researcher

Stephanie Bagnall is a Georgia-licensed attorney and legal researcher with experience in accessibility law, compliance, employment law, and legal writing. She helps develop and review BarPrepHero's Legal Terms content for clarity, accuracy, and usefulness to bar exam students.

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