### Question
How is the "taxable gifts" defined?


### Answer
The term **taxable gifts** is defined in *26 U.S.C. § 2503* as follows -

> 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**

