donee


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Donee

The recipient of a gift. An individual to whom a power of appointment is conveyed.

donee

n. a person or entity receiving an outright gift or donation.

donee

noun acceptor, beneficiary, devisee, grantee, legatee, recipient
See also: assignee, beneficiary, devisee, feoffee, grantee, heir, legatee, licensee, payee, recipient, transferee

donee

a person who receives a gift.

DONEE. He to whom a gift is made, or a bequest given; one who is invested with a power to select an appointee, he is sometimes called an appointer.

References in periodicals archive ?
c) A power of appointment is discretionary if the donee is authorized to exercise or not to exercise it.
However, gift of future usufructs to an unborn person is valid provided that the donee is in being when the interest opens out for heirs.
Relationship of the Donee to the Donor as Compared to the Natural Objects of the Donor's Bounty--A gift that is at the expense of the natural objects of a donor's bounty may be more readily considered to be a result of undue influence.
If major repairs are done to the vehicle by the donee without any additional funding from the donor, the gross proceeds limitation may not apply whereby the taxpayer may use the fair market value of the donated vehicle.
This new rule applies to appreciated tangible personal property that is identified by the donee, for example on IRS Form 8283, as for a use related to the purpose or function constituting the donee's basis for tax exemption and for which a deduction exceeding $5,000 is claimed ("applicable property").
Even better, to avoid making the corporation pay anything to buy back the shares donated by its principal shareholder, the donor and donee could agree that the time of the redemption is upon the death of the donor, with the planned redemption amount covered by the donor's life insurance.
Another important issue in the intergenerational gifting of FLP ownership interests is whether the FLP income is actually distributed to the donee (see Regulation 1.
In such cases, the donee will receive the "stepped-up" basis (fair market value at time of death) for Income tax purposes.
On the other hand, we find that many of the so-called donee states dedicate a greater percentage of their own resources to their highway programs," said Rahall.
This change would make it clear that a taxpayer is not required to obtain a certification from each donee that the contribution was in fact used solely in the United States.
Gifts of up to $12,000 per donee ($24,000 for married couples) are generally excluded from gift tax.
The IRS disagreed with the former recommendation, noting that the copy of Form 1098-C is a supporting document only and said it will monitor the effectiveness of its outreach program to advise donee organizations of the filing requirement.