The gift tax is imposed on inter vivos (lifetime)transfers.

Name: The gift tax is imposed on inter vivos (lifetime)transfers.
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The gift tax is imposed on any transfer of property by one individual to another while receiving nothing, or less than fair market compensation, in return. These transfers, often called inter vivos gifts or lifetime gifts, can be subjected to the gift tax depending on their value.

The Gift Tax Is Imposed on Inter Vivos (Lifetime)transfers