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Make a gift about name q Employee q Physician q Volunteer Dept Employee ID Email Phone Address City ZIP your impact PLEASE DIRECT MY GIFT TO: q Employee Financial Assistance q Global Health Initiatives:
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What is make a gift?
Make a gift is when someone voluntarily transfers property or assets to another person without expecting anything in return.
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Any individual who makes a gift above the annual exclusion amount set by the IRS is required to file a gift tax return.
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To fill out a gift tax return, individuals can use Form 709 provided by the IRS and report the details of the gift including the value and any applicable deductions.
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The purpose of making a gift is to transfer wealth or assets to another person while potentially reducing the donor's taxable estate.
What information must be reported on make a gift?
On a gift tax return, individuals must report the details of the gift including the value of the gift, any deductions claimed, and the relationship between the donor and the recipient.
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