Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2014

1.106 -Nontaxation of Capital Gains at the Time of Gift

Item DescriptionFY2012 FY2013 FY2014
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. Note: Last year's FY13 estimate reflected the anticipation that capital gains realizations would be higher in tax year 2012 as a result of expiring favorable federal tax rates.
Comment: See also item 1.022 above.

Origin:  IRC S. 1001, 1015
Estimate:  $93.8
77.6 91.4 93.8


IRCFederal 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.

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