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Get the free On Form 709 (gift tax) can I enter several monthly gifts to my ...

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ALUMNI ASSOCIATIONSubmitted by: ___ Extension: ___ADVICE OF CASH GIFT INSTRUCTIONS: Prepare and print this form for all cash gifts received. Deliver with all money and ALL COPIES OF ANY CORRESPONDENCE
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How to fill out on form 709 gift

01
Gather all the necessary information including the donor's and recipient's information, the amount of the gift, and any details about the gift such as property or stocks.
02
Carefully read the instructions for Form 709 provided by the IRS.
03
Fill out the form accurately and completely, making sure to include all required information and attachments.
04
Double-check the form for any errors before submitting it to the IRS.
05
Submit the completed Form 709 by the deadline specified by the IRS.

Who needs on form 709 gift?

01
Anyone who has given gifts that exceed the annual exclusion amount set by the IRS.
02
Individuals who have made gifts of a certain value that need to be reported for tax purposes.
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Form 709 is used to report gifts given during the tax year that exceed the annual exclusion amount set by the IRS.
Individuals who give gifts that exceed the annual exclusion amount are required to file Form 709.
Form 709 should be filled out with information about the donor, the recipient, the value of the gift, and any applicable deductions or exclusions.
The purpose of Form 709 is to report gifts that may be subject to gift tax and to keep track of the lifetime gift tax exemption amount.
Information such as the donor's name and SSN, the recipient's name and relationship to the donor, the value of the gift, and any deductions or exclusions must be reported on Form 709.
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