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Township of Franklin
Board of Education
Regular Meeting
April 29, 2015
7:09 p.m.
Mary F. Janvier School
The Regular Meeting of the Township of Franklin Board of Education
was called to order on the
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What is 709 p?
709 p refers to Form 709, which is the United States Gift (and Generation-Skipping Transfer) Tax Return.
Who is required to file 709 p?
Individuals who make gifts exceeding the annual exclusion amount are required to file Form 709.
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Form 709 must be completed with information regarding the gifts made during the taxable year, including the fair market value of the gifts and any applicable deductions.
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The purpose of Form 709 is to report gifts made during the taxable year and calculate any gift tax owed.
What information must be reported on 709 p?
Information such as the fair market value of gifts, any deductions claimed, and details of the donor and recipient must be reported on Form 709.
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