The IRS has published Notice 2010-19 :
The notice applies to taxpayers making gifts in trust during 2010. Under section 2511(c), a transfer of property to a non-wholly-owned grantor trust is a transfer by gift of the entire interest in the property. To determine whether a transfer to a wholly-owned grantor trust constitutes a gift, the gift tax provisions in effect prior to 2010 apply.
Posted by Marc Patterson, Managing Associate Editor, Wealth Strategies Journal.
Leave a comment