Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Sep 1, 2024 3:04:02 PM

Where do I find Form 709 (gift tax) in the Premier Turbo Tax software?

0 2 5647
2 Replies
Level 15
Sep 1, 2024 3:11:03 PM

You will not find form 709 anywhere in TurboTax.

 

 

Gifts given to family members, friends or other individuals are not deductible.   Gifts received are not taxable to the person who received the gift, and are not entered on a tax return.

 

If your gift exceeds the yearly limit ($17,000 per individual)  imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form and send it to the IRS, although it is very unlikely that you will owe any tax.    In 2024 that yearly limit will increase to $18,000.

 

TurboTax does not support Form 709.  It is not an income tax form and would not be included as part of an income tax return.

 

Here is a link to the form:

https://www.irs.gov/pub/irs-pdf/f709.pdf

 

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

 

Level 15
Sep 1, 2024 3:12:16 PM

IRS Form 709 is not included in the TurboTax program.

If you need to file a Form 709 then you will have to complete, print and mail the form to the IRS using the address shown in the form instructions.  It is not to be included with your tax return.

 

Go to this IRS website for the Form 709 - https://www.irs.gov/forms-pubs/about-form-709