Count each person only once 11a b Have you the donor previously filed a Form 709 or 709-A for any other year If No skip line 11b Has your address changed since you last filed Form 709 or 709-A. 14 SSN Consenting spouse s signature Part 2 Tax Computation Attach check or money order here. Date Have you applied a DSUE amount received from a predeceased spouse to a gift or gifts reported on this or a previous Form 709 If Yes complete Schedule C. 2 Donor s last name 3 Donor s social security number...4 Address number street and apartment number 5 Legal residence domicile 6 City or town state or province country and ZIP or foreign postal code 7 Citizenship see instructions If you extended the time to file this Form 709 check here Enter the total number of donees listed on Schedule A. Cat. No. 16783M Form 709 2022 Page 2 SCHEDULE A A B Computation of Taxable Gifts including transfers in trust see instructions Does the value of any item listed on Schedule A reflect any valuation discount If Yes... attach explanation Check here if you elect under section 529 c 2 B to treat any contributions made this year to a qualified tuition program as made ratably over a 5-year period beginning this year. If line 15 is No check whether married divorced or widowed/deceased and give date. See instructions Will a gift tax return for this year be filed by your spouse If Yes mail both returns in the same envelope. See instructions. Attach explanation. Part 1 Gifts Subject Only to Gift Tax. Gifts less...political organization medical and educational exclusions. Total of Part 1. Add amounts from Part 1 column H. Part 2 Direct Skips. Gifts that are direct skips and are subject to both gift tax and generation-skipping transfer tax. Enter the amount from Schedule A Part 4 line 11. Total taxable gifts. Add lines 1 and 2. Tax computed on amount on line 3 see Table for Computing Gift Tax in instructions Balance. Form United States Gift and Generation-Skipping Transfer Tax Return OMB No* 1545-0020 Go...to www*irs*gov/Form709 for instructions and the latest information* Part 1 General Information Department of the Treasury Internal Revenue Service 1 Donor s first name and middle initial For gifts made during calendar year 2022 See instructions. Gifts by husband or wife to third parties. Do you consent to have the gifts including generation-skipping transfers made by you and by your spouse to third parties during the calendar year considered as made one-half by each of you See instructions. If...the answer is Yes the following information must be furnished and your spouse must sign the consent shown below. If the answer is No skip lines 13 18. If the donor died during the year check here and enter date of death. Yes No Name of consenting spouse Were you married to one another during the entire calendar year See instructions. Consent of Spouse. I consent to have the gifts and generation-skipping transfers made by me and by my spouse to third parties during the calendar year considered...as made one-half by each of us.
pdfFiller is not affiliated with IRS
Get, Create, Make, and Sign IRS 709
Edit your IRS 709 online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Share your form instantly
Email, fax, or share your IRS 709 via URL. You can also download, print, or export forms to your preferred cloud storage service.
Instructions and Help about IRS 709
How to edit IRS 709
How to fill out IRS 709
Instructions and Help about IRS 709
How to edit IRS 709
To edit IRS 709, you can use software tools that allow you to fill out PDF forms. Ensure that you have the most recent version of the form available on the IRS website or reputable tax software platforms. Tools such as pdfFiller can help you make necessary changes, ensuring your information is accurate and up to date.
How to fill out IRS 709
Filling out IRS 709 requires careful attention to detail. Follow these steps:
01
Gather necessary documents, including the total gifts made, details about the recipients, and any prior IRS Form 709 submissions.
02
Begin by providing your personal information in the designated sections, including your name, address, and taxpayer identification number.
03
Detail all gifts made during the year, specifying their value and date of transfer.
04
Complete any supplementary pages if required, based on the complexity of your gifts.
05
Review the completed form to check for errors before submitting.
About IRS previous version
What is IRS 709?
IRS 709, officially known as the "United States Gift (and Generation-Skipping Transfer) Tax Return," is a form used to report gifts that exceed the annual exclusion limit. It is essential for individuals who have made significant gifts during the tax year to determine any tax liability.
Who needs the form?
Individuals who give gifts valued above the annual exclusion amount must file IRS 709. For 2022, the annual exclusion was set at $16,000 per recipient. If a single gift exceeds this threshold, the giver is responsible for reporting it using this form.
Components of the form
IRS 709 consists of several key parts, including the main section where you provide your information, details about the gifts made, and any supporting schedules. The form requires comprehensive reporting to ensure accurate tax calculations.
What information do you need when you file the form?
When filing IRS 709, you need various types of information, including:
01
Your name, address, and taxpayer identification number.
02
A detailed list of all gifts made during the year, including values and recipient details.
03
Information on any prior gifts reported on previous IRS Form 709 filings.
04
Documentation proving the valuation of gifts, if applicable.
Where do I send the form?
After completion, IRS 709 should be mailed to the appropriate address as indicated in the form’s instructions. The filing address may vary depending on whether you are enclosing a payment. Always check the latest IRS guidelines for this information to ensure proper submission.
What is the purpose of this form?
The purpose of IRS 709 is to document gifts that are subject to federal gift tax. This form helps the IRS monitor taxable gifts and ensures compliance with tax laws related to wealth transfer. It also assists in calculating any applicable taxes owed on these gifts.
When am I exempt from filling out this form?
You are exempt from filing IRS 709 if all gifts made during the tax year are below the annual exclusion amount. Additionally, gifts made to your spouse, gifts to charities, or certain educational and medical expenses paid directly may not require reporting on this form.
What are the penalties for not issuing the form?
Failure to file IRS 709 when required can result in significant penalties. These may include a failure-to-file penalty and interest on any unpaid gift taxes. It's crucial to comply with filing requirements to avoid unnecessary financial consequences.
Is the form accompanied by other forms?
IRS 709 may need to be filed alongside other forms or schedules depending on your specific situation, such as Form 706 if you are also dealing with estate issues. It's important to review IRS guidelines to determine necessary accompanying documents to ensure thorough and compliant filings.
FAQ about IRS 709
What should I do if I need to correct an error on my submitted IRS 709?
If you discover an error after submitting IRS 709, you can file an amended return using the same form. Ensure you clearly indicate the corrections made and label the return as 'Amended' to distinguish it from the original submission. It’s essential to retain copies of all submitted forms and any correspondence for your records.
How can I verify the status of my IRS 709 submission?
To check the status of your IRS 709, you can visit the IRS website and use their online tracking tools, or contact the IRS directly by phone. Keep handy your Social Security number and other identifying information to facilitate your inquiry. It’s crucial to follow up promptly to resolve any potential issues with your filing.
What common errors should I be aware of when filing IRS 709?
Common errors when filing IRS 709 include incorrect taxpayer identification numbers, missing signatories, and improperly reported gifts. To avoid these pitfalls, double-check all information for accuracy and ensure that all necessary fields are filled out completely. A thorough review before submission can help prevent delays or rejections.
Are e-signatures acceptable for filing IRS 709?
E-signatures are not universally accepted for IRS 709 at this time. Be sure to check the latest IRS guidelines and ensure compliance with their electronic submission rules. If e-signatures are not permitted, printed signatures are required to validate the submission of the form.
What should I do if my IRS 709 submission is rejected?
If your IRS 709 is rejected, the IRS will notify you with an explanation of the rejection reason. Take prompt action by addressing the specific issue mentioned and resubmitting the corrected form. If applicable, inquire about any potential service fees associated with the resubmission process.
See what our users say
Read user feedback and try pdfFiller to explore all its benefits for yourself
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
