@happycamper0321 Before you record the amount of the gift, you must fill out Schedule A entitled —Gifts Subject Only to Gift Tax. Here are details of the gift including adjusted basis, date, amount of gift etc. In addition, you will need to fill out Schedule B if you gave prior gifts.
Once these are complete, you will record the amount of the gift on line 1, part 2 of the form. If you need to fill out Schedule B, the amount will be recorded on Line 2 Part 2. Then on line 3, you will add line 1 and line 2 totals for the amount of gifts that will be taxed. For more specific details regarding form 709, please read the instructions for form 709 here.
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