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rosielind
Returning Member

Form 709

Hello, I've already filed my taxes and realized that I didn't report gifts, that were made in 2020, in excess of $15,000. I have since completed Form 709 and would like to file an AMEND but don't see how to do that. So, am I required to file an AMEND to include the Form, or, do I just send in the Form 709 without using the AMEND form? 

If I only have to send in Form 709, is there anything additional that is required to be sent with it so that they will know why the form is being sent in?

I've never filed an AMEND before and just want to be sure this is done correctly. No mis-steps. 

Thank-you

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1 Reply

Form 709

Form 709 is not part of your tax return. Do not amend your 2020 tax return for this.   It is a separate form that you prepare and file yourself.  TurboTax does not provide or support Form 709.

 

GIFTS

Money that you receive as a gift is not taxable income to you, and you do not need to report it on your income tax return.  Money that you gave as a gift to someone else is not deductible for your taxes.

 

Turbo Tax does not support the gift tax form 709, but here is a link:

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

 

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

 

https://www.forbes.com/sites/ashleaebeling/2017/10/19/irs-announces-2018-estate-and-gift-tax-limits-...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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