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1.106 -Non-taxation of Capital Gains at the Time of Gift

Item	Description	FY2011	FY2012	FY2013	FY2014	FY2015
1.106	Non-taxation 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. Comment: See also item 1.022 above. Origin: IRC S. 1001, 1015 Estimate: $81.4	68.6	84.9	85.2	74.3	81.4

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.