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Form 709 Gift Tax GST Exemption
Ref: Gift Tax Exemption, Form 709 for 2024
On Schedule D, Part 2 - GST Exemption Reconciliation, Line 2.
It asks for Total exemption used for periods before filing this return.
I gifted my grandson $xxx during 2024 and several prior years.
What would be the Total Exemption for periods before filing this return?
- The sum of the actual gifts for each year?
- The sum of the actual gifts less the exclusion for each year?
- The sum of the exclusions for each year?
- Or??
Thanks in advance
‎January 3, 2025
2:39 PM