# 26 U.S.C. § 2512: Valuation of gifts

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s2512>. Cite pinpoints as 26 U.S.C. § 2512(a)(1).

## § 2512(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.

## § 2512(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.

## § 2512(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.

## Regulations

- [Treas. Reg. § 25.2512-0](/26/reg/25.2512-0.md): Table of contents. (interprets § 2512)
- [Treas. Reg. § 25.2512-1](/26/reg/25.2512-1.md): Valuation of property; in general. (interprets § 2512)
- [Treas. Reg. § 25.2512-2](/26/reg/25.2512-2.md): Stocks and bonds. (interprets § 2512)
- [Treas. Reg. § 25.2512-3](/26/reg/25.2512-3.md): Valuation of interest in businesses. (interprets § 2512)
- [Treas. Reg. § 25.2512-4](/26/reg/25.2512-4.md): Valuation of notes. (interprets § 2512)
- [Treas. Reg. § 25.2512-5](/26/reg/25.2512-5.md): Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests. (interprets § 2512)
- [Treas. Reg. § 25.2512-6](/26/reg/25.2512-6.md): Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end investment company. (interprets § 2512)
- [Treas. Reg. § 25.2512-7](/26/reg/25.2512-7.md): Effect of excise tax. (interprets § 2512)
- [Treas. Reg. § 25.2512-8](/26/reg/25.2512-8.md): Transfers for insufficient consideration. (interprets § 2512)
- [Treas. Reg. § 25.2512-5A](/26/reg/25.2512-5A.md): Valuation of annuities, interests for life or a term of years, and remainder or reversionary interests transferred before June 1, 2023. (interprets § 2512)

## Final rules

- [88 FR 37424](https://www.federalregister.gov/documents/2023/06/07/2023-11837/use-of-actuarial-tables-in-valuing-annuities-interests-for-life-or-a-term-of-years-and-remainder-or) (2023): Use of Actuarial Tables in Valuing Annuities, Interests for Life or a Term of Years, and Remainder or Reversionary Interests
- [76 FR 49570](https://www.federalregister.gov/documents/2011/08/10/2011-19675/use-of-actuarial-tables-in-valuing-annuities-interests-for-life-or-terms-of-years-and-remainder-or) (2011): Use of Actuarial Tables in Valuing Annuities, Interests for Life or Terms of Years, and Remainder or Reversionary Interests
- [74 FR 21438](https://www.federalregister.gov/documents/2009/05/07/E9-10111/use-of-actuarial-tables-in-valuing-annuities-interests-for-life-or-terms-of-years-and-remainder-or) (2009): Use of Actuarial Tables in Valuing Annuities, Interests for Life or Terms of Years, and Remainder or Reversionary Interests
- [65 FR 36908](https://www.federalregister.gov/documents/2000/06/12/00-12986/use-of-actuarial-tables-in-valuing-annuities-interests-for-life-or-terms-of-years-and-remainder-or) (2000): Use of Actuarial Tables in Valuing Annuities, Interests for Life or Terms of Years, and Remainder or Reversionary Interests
- [64 FR 23187](https://www.federalregister.gov/documents/1999/04/30/99-10533/use-of-actuarial-tables-in-valuing-annuities-interests-for-life-or-terms-of-years-and-remainder-or) (1999): Use of Actuarial Tables in Valuing Annuities, Interests for Life or Terms of Years, and Remainder or Reversionary Interests

## Leading cases

- [Crown v. Commissioner, 585 F.2d 234 (7th Cir. 1978)](https://www.courtlistener.com/opinion/360222/lester-crown-v-commissioner-of-internal-revenue/)
- [Estate of Bongard v. Commissioner, 124 T.C. 95 (2005)](https://www.courtlistener.com/opinion/4696926/estate-of-bongard-v-commr/)
- [Shepherd v. Commissioner, 115 T.C. 376 (2000)](https://www.courtlistener.com/opinion/4696531/shepherd-v-commissioner/)

## Connections

Cites: § 7517 Furnishing on request of statement explaining estate or gift valuation

Cited by: none

Derived from: 1939 § 1002; 1939 § 1005

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 406
- 1970-12-31: [Pub. L. 91-614](/26/act/91-614.md), 84 Stat. 1840
- 1976-10-04: [Pub. L. 94-455](/26/act/94-455.md), 90 Stat. 1891
- 1981-08-13: [Pub. L. 97-34](/26/act/97-34.md), 95 Stat. 322