Are you aware that Form 709 is a strictly informational form that the IRS requires? The lifetime gift tax exclusion - the amount you’re able to give away tax-free over the course of your lifetime above the annual gift tax exclusion - is currently $12.06 million ($24.12 million for married couples).
Form 709 is how the IRS keeps track of your lifetime gifts.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
