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?

  1. The sum of the actual gifts for each year?
  2. The sum of the actual gifts less the exclusion for each year?
  3. The sum of the exclusions for each year?
  4. Or??

Thanks in advance