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Advancement Operations Dowdy Building, Suite 400 1601 E. Market Street Greensboro, NC 27411 (336) 3347600 Prefix First Middle Last Suffix Banner ID Telephone Email Address City State Zip Code College/Division
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What is my total gift to?
Your total gift to refers to the total amount of money or property given as gifts during a specific period, typically calculated for tax purposes.
Who is required to file my total gift to?
Generally, the donor (the person giving the gift) is required to file a total gift tax return if they exceed the annual exclusion limit for gifts.
How to fill out my total gift to?
To fill out your total gift tax return, you will need to complete IRS Form 709, reporting the amount of gifts made and the recipients' details, along with any necessary deductions.
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The purpose of reporting your total gift to is to ensure compliance with tax laws and to determine if any gift tax is owed based on the total value of gifts given.
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You must report the names and addresses of the recipients, the date and description of the gifts, and their fair market value.
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