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F e BR u AR y 2 0 08 H OPE F OR The F FUTURE MINISTRIES INSIDE THIS ISSUE: Gift That Keeps Giving 1 Glory to Glory 1 Ministry Needs 2 Website Info/Donate 2 Pasta Party / Christian Owned Business 2
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What is form gift that keeps?
Form gift that keeps refers to the IRS Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return.
Who is required to file form gift that keeps?
Individuals who have made gifts that exceed the annual exclusion amount set by the IRS are required to file Form 709.
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Form 709 must be filled out with details of the gifts made, including the value of the gifts and any applicable deductions.
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Form 709 requires reporting of details such as the value of gifts made, any deductions claimed, and the calculation of gift tax owed.
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