topic How to fill out 709 form for a joint spousal gift with 30k check to minor's account? How many 709 forms, 1 or 2? How to answer line 17.? Should I fill out Sch. A? How? in Business & farm

How to fill out 709 form for a joint spousal gift with 30k check to minor's account? How many 709 forms, 1 or 2? How to answer line 17.? Should I fill out Sch. A? How?

sophia_fd-yahoo- — Thu, 11 Mar 2021 06:15:39 GMT

The instructions for the form 709 are difficult to follow, especially for a joint gift from spouses.
It was just one check from both of us.
Do I have to fill out 709 for each of spouses?
Thank you!!!

Re: How to fill out 709 form for a joint spousal gift with 30k check to minor's account? How many 709 forms, 1 or 2? How to answer line 17.? Should I fill out Sch. A? How?

Anonymous_ — Thu, 11 Mar 2021 15:26:49 GMT

Only the donor spouse needs to file a gift tax return if:

During the calendar year:

Only one spouse (the donor spouse) made gifts of more than $15,000 but not more than $30,000 to any third-party donee,
The only gifts made by the other spouse (the consenting spouse) were gifts of not more than $15,000 to third-party donees other than those to whom the donor spouse made gifts, and
All of the gifts by both spouses were of present interests.

Schedule A should be completed.

Re: How to fill out 709 form for a joint spousal gift with 30k check to minor's account? How many 709 forms, 1 or 2? How to answer line 17.? Should I fill out Sch. A? How?

sophia_fd-yahoo- — Thu, 11 Mar 2021 22:29:06 GMT

Thank you for your reply. I will file one form. Instructions are so confusing because it implies that both spouses should submit a separate 709 but mail them in one envelope.

Which parts of a Schedule A do I need to fill out? Is it Part 1: Gifts Subject to Gift Tax

Gifts Subject to Gift Tax AND Part 4?

Our gift is not a subject to tax because it does not exceed 30k joint gift from spouses.

Thanks!

One more question, please.

If each of spouses would write a separate 15k check from a joint account, do we still have to file 709?

Thanks again!

Re: How to fill out 709 form for a joint spousal gift with 30k check to minor's account? How many 709 forms, 1 or 2? How to answer line 17.? Should I fill out Sch. A? How?

Anonymous_ — Thu, 11 Mar 2021 22:30:26 GMT

Part I and in the latter case, no.

Re: How to fill out 709 form for a joint spousal gift with 30k check to minor's account? How many 709 forms, 1 or 2? How to answer line 17.? Should I fill out Sch. A? How?

sophia_fd-yahoo- — Thu, 11 Mar 2021 22:49:31 GMT

Thank you so much!