2 questions related to Form 709.
What should I enter in Box 7 of Form 709 when both the donor and donee are green card holders? "citizen of the United States", "nonresident not a citizen of the United States" or ...? We both are domiciled in the USA.
Also, when making a gift to my "green card" spouse in excess of $159K, it must be reported on Form 709. Should I deduct $159K of the total gift to calculate the adjusted basis of gift, or does the entire gift eat into my lifetime $11.7M?
Thank you.
