Answer each question by defining the term in your own words to demonstrate an understanding. Cite any pertinent Internal Revenue Code sections or Regulations when possible. 1. Net Gift 2. Disclaimer 3. Marital Deduction Answer each question by defining the term in your own words to demonstrate an understanding. Cite any pertinent Internal Revenue Code sections or Regulations when possible. 1. Net Gift 2. Disclaimer 3. Marital Deduction