The instructions for the form 709 are difficult to follow, especially for a joint gift from spouses.
It was just one check from both of us.
Do I have to fill out 709 for each of spouses?
Thank you!!!
Only the donor spouse needs to file a gift tax return if:
During the calendar year:
Only one spouse (the donor spouse) made gifts of more than $15,000 but not more than $30,000 to any third-party donee,
The only gifts made by the other spouse (the consenting spouse) were gifts of not more than $15,000 to third-party donees other than those to whom the donor spouse made gifts, and
All of the gifts by both spouses were of present interests.
Schedule A should be completed.
Thank you for your reply. I will file one form. Instructions are so confusing because it implies that both spouses should submit a separate 709 but mail them in one envelope.
Which parts of a Schedule A do I need to fill out? Is it Part 1: Gifts Subject to Gift Tax
Gifts Subject to Gift Tax AND Part 4?
Our gift is not a subject to tax because it does not exceed 30k joint gift from spouses.
Thanks!
One more question, please.
If each of spouses would write a separate 15k check from a joint account, do we still have to file 709?
Thanks again!