Title 26, Internal Revenue CodeRelease 119-110

§2512 Valuation of Gifts

Title 26 › Subtitle B — Estate and Gift Taxes › CHAPTER 12 — GIFT TAX › Subchapter B — Transfers › § 2512

Last updated Sep 22, 2026|Official source

Summary

When you give property, use its value on the day you gave it as the gift amount. If you transfer property for less than full payment in money or its equivalent, the shortfall counts as a gift for that calendar year. You may request the Secretary’s valuation statement under section 7517.

Full Legal Text

Title 26, §2512

Internal Revenue Code, Source: USLM XML via OLRC

(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.

(b)Where property is transferred for less than an adequate and full consideration in money or money’s 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.

(c)Cross reference

For individual’s right to be furnished on request a statement regarding any valuation made by the Secretary of a gift by that individual, see section 7517.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1981—Subsec. (b). Pub. L. 97–34 substituted “calendar year” for “calendar quarters”. 1976—Subsec. (c). Pub. L. 94–455 added subsec. (c). 1970—Subsec. (b). Pub. L. 91–614 substituted “calendar quarter” for “calendar year”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1981 AmendmentAmendment by Pub. L. 97–34 applicable with respect to gifts made after Dec. 31, 1981, see section 442(e) of Pub. L. 97–34, set out as a note under section 2501 of this title.

Effective Date

of 1970 AmendmentAmendment by Pub. L. 91–614 applicable with respect to gifts made after Dec. 31, 1970, see section 102(e) of Pub. L. 91–614, set out as a note under section 2501 of this title.

Reference

Citations & Metadata

Citation

26 U.S.C. § 2512

Title 26, Internal Revenue Code

Last Updated

Sep 22, 2026

Release point: 119-110