Get the free form 709 2008 - irs

If you gave gifts to someone in 2008 totalling more than 12 000 other than to your spouse you probably must file Form 709. Userid DTD INSTR04 Leadpct -1 Pt. size 9 Fileid D users q7tmb documents 2008 Ins 709 08I709. sgm PAGER/SGML Page 1 of 12 Instructions for Form 709 Draft Init. This means you must file a separate return for each calendar year a reportable gift is given for example a gift given in 2008 must be reported on a 2008 Form 709. On her 2009 Form 709 D reports in Part 1 of...

How to fill out form 709 2008

How to fill out form 709 2008?

1. Obtain the form: Form 709 2008 can be obtained from the Internal Revenue Service (IRS) website or by requesting a copy from your local IRS office.
2. Provide personal information: Fill in your name, social security number, and address in the designated fields on the form.
3. Specify relationship: Indicate your relationship to the person for whom the gift is being reported, such as spouse, child, or other recipient.
4. Report the gifts: Enter the value of all gifts made during the tax year, including cash, property, and other assets. Provide a detailed description of each gift.
5. Calculate the total taxable gifts: Add up the values of all gifts made throughout the year and enter the total in the appropriate section.
6. Determine if tax is due: If the total taxable gifts exceed the annual exclusion amount (which is subject to change each year), you may be required to pay gift tax. Consult the IRS guidelines or a tax professional for the most up-to-date information.
7. Attach additional documentation: If necessary, attach any supporting documentation, such as appraisals or valuations of the gifts, to provide proof of their value.
8. Sign and date the form: Complete the form by signing and dating it in the appropriate fields.
9. File the form: Submit the completed form to the IRS by the designated deadline, which is typically April 15th of the following year.

Who needs form 709 2008?

1. Individuals who have made gifts during the tax year exceeding the annual exclusion amount.
2. Executors of estates who are required to report certain transfers made before the decedent's death.
3. Spouses of individuals making gifts that require splitting.

Note: It is important to consult with a tax professional or refer to the most up-to-date IRS guidelines for accurate and current information on the filing requirements for form 709 2008.

For pdfFiller’s FAQs

How can I get form 709 2008?

With pdfFiller, an all-in-one online tool for professional document management, it's easy to fill out documents. Over 25 million fillable forms are available on our website, and you can find the form 709 2008 in a matter of seconds. Open it right away and start making it your own with help from advanced editing tools.

Can I create an eSignature for the form 709 2008 in Gmail?

When you use pdfFiller's add-on for Gmail, you can add or type a signature. You can also draw a signature. pdfFiller lets you eSign your form 709 2008 and other documents right from your email. In order to keep signed documents and your own signatures, you need to sign up for an account.

Can I edit form 709 2008 on an iOS device?

Create, modify, and share form 709 2008 using the pdfFiller iOS app. Easy to install from the Apple Store. You may sign up for a free trial and then purchase a membership.

What is form 709?

Form 709 is a United States Internal Revenue Service (IRS) tax form used to report gifts and generation-skipping transfers.

Who is required to file form 709?

Any individual who made taxable gifts or generation-skipping transfers, or wants to split gifts with their spouse, is required to file Form 709.

How to fill out form 709?

Form 709 can be filled out manually or electronically. You will need to provide information about the donor, recipient, and details of the gifts or transfers made. It is recommended to consult the instructions provided by the IRS to ensure accurate completion of the form.

What is the purpose of form 709?

The purpose of Form 709 is to report gifts and generation-skipping transfers, which are subject to taxation. This form helps the IRS track and assess the appropriate gift and estate taxes.

What information must be reported on form 709?

Form 709 requires details about the donor, recipient, relationship, fair market value of gifts, and any deductions or exclusions claimed. It also requires information about any prior gifts made by the donor.