Thank you! The article is helpful. I filled out Form 709 and it's confusing because under Part II, Tax Computation, line 19 shows a "balance due" amount of approx. $24,000. This is the first and only time I've filed a Gift Tax Return, so because I'm nowhere near the $13 million limit, I guess this amount is just charged against my limit and I am not obligated to pay taxes on that amount. Is that correct? I will not receive a tax bill from the IRS?
