Does Turbotax prepare a Fporm 709 on Gift Tax
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jacobys-belmont
New Member

Does Turbotax prepare a Fporm 709 on Gift Tax

 
2 Replies
Hal_Al
Level 15

Does Turbotax prepare a Fporm 709 on Gift Tax

No.

xmasbaby0
Level 15

Does Turbotax prepare a Fporm 709 on Gift Tax

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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