Gift splitting definition

Gift splitting means the election to have a gift treated as made one-half by the
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Examples of Gift splitting in a sentence

  • Gift splitting allows same-sex couples to equally contribute into a conveyance of a gift to a third- party.

  • The entire amount of the gift is excluded from taxation as it falls within Husband and Wife’s annual exclusions.• Gift splitting treatment is not automatic.

  • Gift splitting is available only if each spouse is either a U.S. citizen or RA.

  • Gift splitting enables a donor spouse to double his annual exclusion amount(s) and exemption amount by using the annual exclusion amount(s) and exemption amount of his spouse, provided she consents.

  • Gift splitting is elected by the checking the box on line 12 of the Form 709.

  • The entire amount of the gift is excluded from taxation as it falls within Husband and Wife’s annual exclusions.● Gift splitting treatment is not automatic.

  • Thus, gifts made while one spouse is a nonresident alien may not be split.44 Gift splitting under Code Sec.

  • Gift splitting of the items received, or amongst other staff members, in order to get around the AUD$50 threshold is not permitted and will be deemed to be improper.

  • Gift splitting can be done only between spouses.A parent and an adopted childIncorrect.

  • Although a donor can split gifts with her deceased spouse if the gifts were made while they were married, the wife's gift of insurance proceeds in this situation wasn't considered to have been made while she was married.43 Gift splitting is allowed only if, at the time of the gift, each spouse was a U.S. citizen or resident.

Related to Gift splitting

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  • Common Channel Signaling (CCS means an out-of-band, packet-switched, signaling network used to transport supervision signals, control signals, and data messages. It is a special network, fully separate from the transmission path of the public switched network. Unless otherwise agreed by the Parties, the CCS protocol used by the Parties shall be SS7.

  • Paraphernalia means items used for the storage or use of usable marijuana, marijuana concentrates, or marijuana-infused products, such as, but not limited to, lighters, roach clips, pipes, rolling papers, bongs, and storage containers. Items for growing, cul­ tivating, and processing marijuana, such as, but not limited to, bu­ tane, lights, and chemicals are not considered "paraphernalia."

  • Common Channel Signaling (CCS) means an out-of-band, packet-switched, signaling network used to transport supervision signals, control signals, and data messages. It is a special network, fully separate from the transmission path of the public switched network. Unless otherwise agreed by the Parties, the CCS protocol used by the Parties shall be SS7.

  • Disinfection means a process which inactivates pathogenic organisms in water by chemical oxidants or equivalent agents.

  • Gift aid means financial aid received from the federal Pell

  • Native means any wildlife species naturally occurring in Washington for purposes of breeding, resting, or foraging, excluding introduced species not found historically in this state.

  • Tobacco paraphernalia means any item designed or marketed for the consumption, use, or preparation of Tobacco Products.

  • Stacking (or “Stackable”) means the application of more than one of the same Subscription to account for additional capacity.

  • Baiting means the direct or indirect placing, exposing, depositing, distributing, or scattering of salt, grain, or other feed that could serve as a lure or attraction for upland game to, on, or over any areas where hunters are attempting to take them.

  • Drug paraphernalia means all equipment, products, and materials of any kind, which are used for injecting, ingesting, inhaling or otherwise introducing a drug into the human body. This includes, but is not limited to, all equipment, products and materials prohibited or controlled by State or Federal laws.

  • Mist spray adhesive means any aerosol which is not a special purpose spray adhesive and which delivers a particle or mist spray, resulting in the formation of fine, discrete particles that yield a generally uniform and smooth application of adhesive to the substrate.

  • Dressing means putting on and taking off all items of clothing and any necessary braces, fasteners or artificial limbs.

  • Web spray adhesive means any aerosol adhesive that is not a mist spray or special purpose spray adhesive.

  • Cultivation means any activity involving the planting, growing, harvesting, drying, curing, grading, or trimming of cannabis.

  • Centralized Message Distribution System (CMDS) means the industry-wide data collection system, which handles the daily exchange of message details between CMDS participating telephone companies (also known as CMDS Direct Participants). AT&T-21STATE is a CMDS Direct Participant.

  • Centralized Message Distribution System or "CMDS" means the operation system that Local Exchange Carriers use to exchange outcollect and IABS access messages among each other and other parties connected to CMDS.

  • Transformation means, any of the following with respect to a legal entity: a merger, transformation, (re-) registration, incorporation as a joint stock or limited liability company or partnership or other legal entity, bankruptcy, liquidation, insolvency, organization into a distinct form or other entity or any other event or process by which any of the following is altered with respect to that entity: its legal identity, form or nature, or the form or nature of its ownership or capital, or its seat, and where any such event or process or any part thereof took place at any time between 22 March 1989 and 13 June 2002.

  • Regional economic integration organization means an organization constituted by sovereign States of a given region to which its member States have transferred competence in respect of matters governed by this Convention and which has been duly authorized, in accordance with its internal procedures, to sign, ratify, accept, approve or accede to this Convention;

  • Cigarette means any product that contains nicotine, is intended to be burned or heated under ordinary conditions of use, and consists of or contains (i) any roll of tobacco wrapped in paper or in any substance not containing tobacco; or (ii) tobacco, in any form, that is functional in the product, which, because of its appearance, the type of tobacco used in the filler, or its packaging and labeling, is likely to be offered to, or purchased by, consumers as a cigarette; or (iii) any roll of tobacco wrapped in any substance containing tobacco which, because of its appearance, the type of tobacco used in the filler, or its packaging and labeling, is likely to be offered to, or purchased by, consumers as a cigarette described in clause (i) of this definition. The term "cigarette" includes "roll-your-own" (i.e., any tobacco which, because of its appearance, type, packaging, or labeling is suitable for use and likely to be offered to, or purchased by, consumers as tobacco for making cigarettes). For purposes of this definition of "cigarette", 0.09 ounces of "roll-your-own" tobacco shall constitute 1 individual "cigarette".

  • Small municipal separate storm sewer system or "small MS4" means all separate storm sewers that are (i) owned or operated by the United States, a state, city, town, borough, county, parish, district, association, or other public body (created by or pursuant to state law) having jurisdiction over disposal of sewage, industrial wastes, stormwater, or other wastes, including special districts under state law such as a sewer district, flood control district or drainage district, or similar entity, or an Indian tribe or an authorized Indian tribal organization, or a designated and approved management agency under § 208 of the CWA that discharges to surface waters and (ii) not defined as "large" or "medium" municipal separate storm sewer systems or designated under 4VAC50-60-380 A 1. This term includes systems similar to separate storm sewer systems in municipalities, such as systems at military bases, large hospital or prison complexes, and highway and other thoroughfares. The term does not include separate storm sewers in very discrete areas, such as individual buildings.

  • Self-Regulatory Organization means any association of investment advisers or securities dealers registered under the federal securities laws, or any Exchange.

  • UCITS means an undertaking for collective investment in transferable securities established pursuant to the UCITS Regulations;

  • Paraplegia means the permanent Paralysis and functional loss of use of both lower limbs.

  • Gift card means a document, card, certificate, or other record, whether tangible or intangible, that may be redeemed by a consumer for a dollar value when making a purchase of tangible personal property or services.

  • Topping means the severing of main trunks or stems of vegetation at any place above 25 percent of the vegetation height.