Adjustments for gifts made within 3 years of death

What this document is

26 U.S.C. s. 2035: Adjustments for gifts made within 3 years of death is a state statute published by U.S. Government Publishing Office (govinfo.gov). It is one of the documents that insurance license exam questions are written from, including life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

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Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 26 U.S.C. § 2035: subsection (d) (Exception)

  “Subsection (a) and paragraph (1) of subsection (c) shall not apply to any bona fide sale for an adequate and full consideration in money or money's worth.”

• 26 U.S.C. § 2035: subsection (a) (Inclusion of Certain Property)

  “(a) Inclusion of certain property in gross estate If - (1) the decedent made a transfer (by trust or otherwise) of an interest in any property, or relinquished a power with respect to any property, during the 3-year period ending on the date of the decedent's death, and (2) the value of such...”

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