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Level 2
posted Oct 2, 2022 8:35:58 PM

Form 709 and 529 plan- HOW TO FILL OUT FORM 709

Superfund a 529 with my wife, put in lets say 100k.

My question is very simple, do I need to fill out Schedule A part 1 "Gifts made by spouse - complete only if you are splitting  gifts with your spouse and he/she also made gifts"

 

I already know I need to fill out Schedule 1 Part A and I know how to fill it out. I am Asking specifically - do I need to ALSO fill out "Gifts made by spouse" in Schedule A Part 1. 

 

I already know my wife needs to file a separate 709. 

 

My question is, again, do I need to fill in this section of schedule A Part 1 (See attached pic).

It says "If you are splitting gifts (which I am) with your spouse AND he/she also made gifts (which she did not)" 

I saw some sample returns online which filled the section out and some which didnt. 

 

 

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1 Replies
Level 15
Oct 2, 2022 9:44:02 PM

Yes. Each of you completes both your own section and your spouse’s section. The purpose of the form is to report each of your halves of the gift and to approve each other’s  gift of community property. Mail both forms in the same envelope.