Hi again. Just curious but when would you use $4,769,800 on line 7 Part 2 of form 709 (instead of $12,060,000 as noted previously)?
Not applying for the DSUE even though spouse passed away in 2019.
Asking because of the instructions noting as follows and just wanted to be double sure if I should enter one or the other value.
"If you are a citizen or resident of the
United States, you must apply any
available applicable credit against gift tax.
If you are not eligible to use a DSUE
amount from a predeceased spouse, or
Restored Exclusion Amount on taxable
gifts made to a same-sex spouse, enter
$4,769,800 on line 7. Nonresidents not
citizens of the United States may not claim
the applicable credit and should enter zero
on line 7."
