### Question
What does taxable gifts mean?


### Answer
**Taxable gifts** has the following meaning in *26 U.S.C. § 2503*:

> the total amount of gifts made during the calendar year, less the deductions provided in subchapter C (section 2522 and following)

#### Citation:
  - *26 U.S.C. § 2503*
  - Heading: **Subtitle B-Estate and Gift Taxes > CHAPTER 12-GIFT TAX > Subchapter A-Determination of Tax Liability**

