The total gifts given in 2023 is $34k. I started filling out form 709 thinking I only had to report, therefore enter, $17k on Sched A, Part 1, Column D, and Part 4, line 1. I then watched a video from a few years ago showing that I should enter the whole $34k, then enter the annual exclusion of $17k on line 2. The net effect being the same $17k. Which is correct for 2023?
A question regarding the Table for Computing Gift Tax. For line 4 of Part 2 of form 709, am I correct in adding $1,800 from Column C and $1,400 from the calculation in column D?
Thanks for your patience, this is the first time I've worked on a Form 709.