Form 709 – U.S. Gift (and Generation Skipping Transfer) Tax Return

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Overview

At this time, our platform does not support 709, the United States Gift (and Generation-Skipping Transfer) . We currently provide support exclusively for individual Form 1040 tax returns.

What Is Form 709?

Form 709 is used to report:

  • Gifts made during the tax year that exceed the annual exclusion amount.
  • Generation-skipping transfers that are subject to taxation.

A taxpayer may be required to file this form if they gave gifts to another person during the tax year with a total value above the annual exclusion threshold.

Filing Requirements

You may need to file Form 709 if any of the following apply:

  • You or your gave gifts exceeding the annual exclusion amount to anyone other than your spouse.
  • You gave a future interest in property, even if the value is below the annual exclusion amount.
  • You transferred only part of your interest in property to a charitable organization, or if you transferred part to a non-charity.
Gifts to charities that transfer your entire interest in the property are generally not reportable on Form 709.

Who Pays the Gift Tax?

The donor (the person giving the gift) is typically responsible for paying any applicable gift tax and filing Form 709.

If the donor fails to pay, the donee (the recipient) may become liable for the tax.

Additional Resources

For full details and guidance, refer to the official IRS instructions for Form 709.

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