It's my understanding that Gift Taxes are assessed per each entity that is gifted. So the Lifetime Exclusion is per entity gifted, not per donor. Sched B wants data from any previous 709 filed but it doesn't ask about the person that was gifted. If I gifted someone in 2023 but then gifted a different person in 2024, why am I asked to enter data from 2023 on my 2024 Form 709? There is nothing in the instructions that clarifies this in any way. Not to mention the very confusing instructions for Sched B for the "amount finally determined" for column e. The IRS will not help with non-1040 questions. Can you?
