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Get your taxes done using TurboTax
Did you read the entire article that you referred to?
Please go back and carefully reread it.
Also, your question mentions a gift for "one kid", but later refers to "them" - implying more than one person - or does "them" mean multiple gifts to the same person? In different years or in the same year?
Gift tax is determined on the basis of dollars given to a specific person per year.
Did any of your gifts exceed the $15,000 per year per person exclusion?
(In 2021, gifts of less than $15,000 per person, per year, are not subject to gift taxes - they are excluded.)
If the gifts were under this limit, then you do not need to report them.
If the gifts were over this limit, then you do need to report them
Later, The article you mention states "For 2021, an individual’s combined lifetime exemption from federal gift or estate taxes is $11.7 million."
Are you seriously concerned that you will exceed this lifetime exemption of $11.7 million?
If your answer is yes, then I suggest that you may want to pay an advisor to develop an estate plan to help minimize the tax impact. If I were in that situation, I would not want to my guide to be an open forum such as this one. Note that not all of your assets at the time you die need to be part of your estate, hence the need for an estate plan.
If your answer is no. You have no need to worry about filing the form 709.
Just in case you "actually hit it" big, you can worry about gift and estate tax exclusion limits at that time.
If this does not answer your question, please provide more specific information and numbers to help us understand your situation.
You can read more about IRS and gift taxes here
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