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Making a Gift The Institute for International Urban Development is committed to promoting sustainable urban and regional development through community based planning initiatives and research. Annual

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What is making a gift?

Making a gift involves transferring ownership of an asset to another person without receiving anything in return.

Who is required to file making a gift?

Individuals who gift more than the annual gift tax exclusion amount are required to file making a gift.

How to fill out making a gift?

Making a gift is typically done by filling out IRS Form 709 and providing information about the gift and the recipient.

What is the purpose of making a gift?

The purpose of making a gift is to transfer assets to another individual without incurring gift tax consequences.

What information must be reported on making a gift?

The information reported on making a gift includes details about the gift, the recipient, and the fair market value of the asset.

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