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SECTION 5. DRAFTING INFORMATION
Internal Revenue Bulletin 1998-52 · 2026-10-03 edition · updated 2026-10-04 · United States
.04 The maximum amount by which the estate tax valuation method under § 2032A, as amended by section 501(b) of the TRA of 1997, may decrease the value of certain farm and other qualified real property included in a decedent’s gross estate, is adjusted for inflation for calendar year 1999 (section 3.15).
.05 The amount of gifts that may be made to a person in a calendar year without including the amount in taxable gifts under § 2503, as amended by section 501(c) of the TRA of 1997, is adjusted for inflation for calendar year 1999. Also, under § 2523(i)(2) by cross reference to § 2503, the amount of gifts that may be made to a spouse who is not a citizen of
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