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201920 Annual Funding descriptions Athletic Program Gifts to the Athletic Program will be used to support our student athletes. Endowment Funds designated for Endowment will help secure the future

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How to fill out gift descriptions

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Step 1: Start by thinking about the recipient's interests and preferences.

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Step 2: Highlight the unique features and benefits of the gift.

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Step 3: Include specific details such as size, color, material, and any additional accessories.

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Step 4: Use descriptive language to engage the reader and create a visual image of the gift.

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Step 5: Mention any special occasions or events where the gift can be used.

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What is gift descriptions?

Gift descriptions are detailed accounts of gifts given that are required to be reported for tax purposes, including information about the giver, receiver, and the nature of the gift.

Who is required to file gift descriptions?

Individuals who give gifts exceeding the annual exclusion amount set by the IRS are required to file gift descriptions.

How to fill out gift descriptions?

Gift descriptions are filled out using IRS Form 709, which requires information about the gift, its value, and the identities of both the giver and recipient.

What is the purpose of gift descriptions?

The purpose of gift descriptions is to report taxable gifts to the IRS, ensuring compliance with tax laws and proper accounting of gift taxes.

What information must be reported on gift descriptions?

Gift descriptions must include the date of the gift, a description of the gift, its fair market value, and details about the donor and recipient.

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