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TC.078
Under the baseline tax system, unrealized capital gains would be taxed when assets are transferred by gift. In contrast, when a gift of appreciated asset is made under current law, the donor’s basis in the transferred property (the cost that was incurred when the transferred property was first acquired) carries over to the donee. The carryover of the donor’s basis allows a continued deferral of unrealized capital gains.
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
