Federal tax form when one gives someone more than $15000.00

[Anonymous_]

That would be Form 709, which TurboTax does not support.

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

[JohnB5677]

TurboTax does not support IRS Form 709.

Form 709 is not filed with your federal tax return, it is a separate filing that has to be printed and mailed to the IRS using the address in the Form 709 instructions.

Form 709 is the US Gift (and Generation-Skipping Transfer) Tax return  Form 709 Gift Tax

Instructions for Form 709  IRS Instructions Form 709

[Contented]

This topic came up on a brokerage chat room.  Once a person files the form 709 do they have to file it each following year even though they did not give over 15,000 in subsequent years?

[DoninGA]

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@Contented wrote:

This topic came up on a brokerage chat room.  Once a person files the form 709 do they have to file it each following year even though they did not give over 15,000 in subsequent years?

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No.  It is only filed if a gift was given in that tax year and the gift was greater than the exclusion amount for that tax year.