I know TurboTax does not support Form 709 but hoping someone will know the answer.
The provider of the software I use for Form 709 has made a change to the 2020 version of Form 709 that does not seem correct. I spoke to them and was told that I may be correct but CPA's told him they don't follow the rule.
Feedback please...
- With split gifts, should the spouse's gifting be included on Page 3, Part 4, Line 1?
- Am I interpreting the instructions incorrectly?
On Page 3, Part 4, Line 1.
- Line 1 on the 2020 version now includes the gifts by the donor, as well as the spouse.
- On the 2019 version it only includes the gifts by the donor. The spouse's gifts are not included.
- Line 1 states "value of gifts of DONOR", "Add totals from column H of Parts 1,2,3"
The instructions for Part 4 (Page 11) - Taxable Gift Reconciliation seem to be quite clear:
Line 1 (Instructions for 2020, page 11)
- Enter only gifts of the DONOR. If gift splitting has been elected, enter only the value of the gift that is attributable to the spouse that is filing the return.
