Gift and Estate Taxes are not part of the Income Tax system. Totally separate and of a completely different form in filing.
Note also, that once you start when you file your first Form 709 Gift Return, you must file one every year even if you made no additional gifts. Note also that you must file the Form 700 prior to submitting your personal Form 1040 income tax return.
Form 709 is not for the light-hearted so you may want to speak to an accountant about it.
If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67
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