Hi there,
In Form 709, I am entering info for each of the prior years 2018 and 2019 in Schedule B, column C. I referred to “Table of Basic Exclusion and Credit Amounts” and entered 4,417,800 for 2018 and 4,505,800 for 2019.
Now I entered 4,417,800+4,505,800= 8923600 in Line 1 Column C: Totals for prior periods.
Is the above correct?
Then in Part 1: General information line 8=8923600 and line 7= 4,577,800 Is this correct?
Now for line 9: [Line 7 - line 8] = 4,577,800 - 8923600 = -4345800. Is this correct? It says don't enter numbers less than 0, so should I enter 0 for line 9?
Thank you!
