1.106 -Nontaxation of Capital Gains at the Time of Gift

Item	Description	FY2010	FY2011	FY2012
1.106	Nontaxation of Capital Gains at the Time of Gift Ordinarily, capital gains are taxed at the time appreciated property is transferred. However, no tax is imposed on a capital gain when appreciated property is transferred by gift. The taxation of appreciation is deferred until the recipient transfers the property. Origin: IRC S. 1001, 1015 Estimate: $62.6	41.8	54.2	62.6

Key:

ORIGIN
IRC	Federal Internal Revenue Code (26 U.S.C.)
U.S.C	United States Code
M.G.L.	Massachusetts General Laws
Rev. Rul.; C.B.	Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES	All estimates are in $ millions.