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Deductions & credits
I am scrambling trying to finish this form for my mom as she got covid a few months ago and was unable to submit it on time. I was able to book an appointment w/ a CPA for this coming Tuesday to make sure the 709 form is submitted correctly. I was afraid that it will be submitted May 19th instead of May 17th, but it seems the due date was April 15th and am late anyway.
My main concern is if we needed to pay gift taxes, but looks like we only need to report the monetary gift from 2020, correct?
May 15, 2021
6:25 PM