{"identifier":"/us/usc/t26/s2512","title":26,"num":"\u00a7\u202f2512.","heading":"Valuation of gifts","text":"\u00a7\u202f2512.\nValuation of gifts\n(a) If the gift is made in property, the value thereof at the date of the gift shall be considered the amount of the gift.\n(b) Where property is transferred for less than an adequate and full consideration in money or money\u2019s worth, then the amount by which the value of the property exceeded the value of the consideration shall be deemed a gift, and shall be included in computing the amount of gifts made during the calendar year.\n(c)\nCross reference\nFor individual\u2019s right to be furnished on request a statement regarding any valuation made by the Secretary of a gift by that individual, see section 7517.","url":"https://projectusc.org/usc/t26/s2512.html","content":[{"t":"sec","id":"/us/usc/t26/s2512","children":[{"t":"num","text":"\u00a7\u202f2512."},{"t":"heading","text":"Valuation of gifts"},{"t":"subsec","id":"/us/usc/t26/s2512/a","children":[{"t":"num","text":"(a)"},{"t":"content","text":" If the gift is made in property, the value thereof at the date of the gift shall be considered the amount of the gift.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s2512/b","children":[{"t":"num","text":"(b)"},{"t":"content","text":" Where property is transferred for less than an adequate and full consideration in money or money\u2019s worth, then the amount by which the value of the property exceeded the value of the consideration shall be deemed a gift, and shall be included in computing the amount of gifts made during the calendar year.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s2512/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Cross reference"},{"t":"content","children":[{"t":"p","text":"For individual\u2019s right to be furnished on request a statement regarding any valuation made by the Secretary of a gift by that individual, see section 7517.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}