cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

Does Turbotax prepare a Fporm 709 on Gift Tax

 
2 Replies
Level 11

Does Turbotax prepare a Fporm 709 on Gift Tax

No.

Level 11

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-...