Question on entering cash gifts on Schedule A for Form 709

[BeckyMCu]

I gave multiple small financial gifts to one individual through last year.  Each gift was a few thousand or less, but in total are well above 18k.  So, I would still fill out Form 709, correct?  Also, can I just put the total amount of gifts as one entry on Schedule A rather than list each one out individually?

[SabrinaD2]

Yes, you will need to file Form 709 since your total gifts to one individual exceed the annual exclusion amount of $18,000 for 2024

1. Regarding Schedule A, you should list each gift separately rather than combining them into one entry.
2.  The IRS requires detailed reporting of each gift, including the date and amount of each gift

[BeckyMCu]

Well, there will be a few dozen entries, then.  Does it have to be one single entry per page or can I just list the individual once on each page and then list out however many gift entries will fit before filling out another Schedule A?  

[SharonD007]

Charitable contributions that you deduct on your Schedule A as  itemized deductions, must be made to qualified organizations, not individuals. Refer to the TurboTax Blog What is a Charitable Donation?

You can't deduct the money that you gave to an individual as a gift.  Gifts aren't tax deductible. If your gift was more than $18,000 ($36,000 for a married couple),  you will have to complete Form 709, which TurboTax doesn't support.

Refer to the TurboTax articles Where do I report a cash gift? and Tax Guidelines About Gifting.

[BeckyMCu]

This wasn't for a charitable organization.  I was just giving money periodically to a family member, but did it multiple times.  So, when filling out the Form 709, would I just put his name/address down under the Donee column and then could I list out multiple amounts/dates on the one page, or do I have to have a new Schedule A for each individual time I gave him money?  If so, it will be a few dozen pages.  

[RobertB4444]

Since it is one individual just list the total amount given for the year and that will be all that you need to do.  You don't need to list out each individual gift.  

@BeckyMCu 

[BeckyMCu]

@RobertB4444 

Thanks,

That would certainly be a lot easier for me.  It appears to conflict with the advice given by one of the earlier responders, though, who said the IRS needs a detailed list of each individual amount with the dates.  Am I ok as long as the total amount is correct and the rest of the boxes are filled in correctly?  And for the date, would I just choose the last date of the year that I gave money?

[M-MTax]

You list each individual donee (receiver of the gifts) separately and enter the total given to each donee for the entire tax year.

You do NOT need to enter each gift to one individual donee on a separate line in Schedule A.

[BeckyMCu]

@M-MTax 

Ok thanks....that clears it up for me.  

[hi34]

If I combine multiple gifts to the same recipient into one entry in schedule A, what should be the date of the gift? Will it be the last date of the year that I gave money?

[M-MTax]

If the gifts are all cash, the exact dates don't really matter much, provided they're all made in the same tax year (e.g., 2024).