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Level 1
February 18, 2020
Solved

Filing taxes & Form 709

  • February 18, 2020
  • 1 reply
  • 15 views

My 91 yr old Mother has not filed taxes for the past couple of years because her only income is social security & she hasn't had to pay taxes for years. In 2019 she gifted $330,000 & she needs to file Form 709 for this. Does she also have to file a tax return since she is filing Form 709 or can she just submit the form & not file a tax return?

Best answer by DoninGA

Gifts given and gifts received are never entered on a tax return.

 

She only need to file a Form 709 for the gifts given and only if the gift given to a single individual were greater than $15,000.

There will not be any taxes owed on the gifts given if the total of all gifts given by her have been less than $11.4 million.

1 reply

DoninGA
Level 15
DoninGALevel 15Answer
Level 15
February 18, 2020

Gifts given and gifts received are never entered on a tax return.

 

She only need to file a Form 709 for the gifts given and only if the gift given to a single individual were greater than $15,000.

There will not be any taxes owed on the gifts given if the total of all gifts given by her have been less than $11.4 million.