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Making a Gift of Stock Thank you for your interest in supporting GLAD about a gift of stock. To count as a tax deduction for the current year, our broker must receive securities or mutual funds by
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What is making a gift of?
Making a gift of refers to the act of transferring ownership of property or money to another person without expecting anything in return.
Who is required to file making a gift of?
Anyone who has made gifts that exceed the annual exclusion amount, as set by the IRS, is required to file a gift tax return (Form 709).
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To fill out a gift tax return, you need to provide information such as the donor's details, recipient's details, and the value of the gift. Use Form 709 to report the required information.
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The information that must be reported includes the name and address of the donor, name and address of the recipient, description of the gift, date of the gift, and the fair market value of the gift at the time it was given.
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