Form 709 and Quit Claim Deeds

Hi,

My brother, sister and I each received 1/3 of our mother's house when she passed. My brother and I each executed and filed Quit Claim Deeds giving our sister our portions of the house.

Since I am married, can I fill out the 709 form as 1/2 half being given from my spouse and 1/2 from me? Or does all of it have to come from me since only my name is on the Quit Claim Deed?

A few comments.

The value of the property is way below the lifetime limit.

Seems stupid to now require a separate Notice of Consent and not provide a form for it.

Also wish that Turbotax would include this form in their product.

Thanks

1614

Level 12

Mar 12, 2025 11:08:27 AM

You can split gifts with your spouse.

See https://www.irs.gov/instructions/i709#en_US_2024_publink1000122719

I would recommend that you at least use a 709 software program or visit a local professional who can prepare the return for you. The instructions are obtuse in part and somewhat incomplete in part so there's a good chance you're going to have some difficulty with the process.

The link below is to 709 prep software (it's 50 bucks):

https://www.puritas-springs.com/product-category/federal

The links below are to a couple of (moderately helpful) Youtube videos.

https://www.youtube.com/watch?v=a5wJow5h-No

https://www.youtube.com/watch?v=5Z_28sVOrTY

Good luck.

[The reason TurboTax doesn't include Form 709 is likely the same reason they don't include Form 706; they are gift tax and estate tax returns, respectively, not income tax returns]

Level 2

Mar 12, 2025 11:36:08 AM

Hi,

Thank you for the reply. The last time I had to fill out a 709, we had my brother do it who was a CPA. Unfortunately he passed a few years ago. I have that form as an example, although the current form is a little different.

Thanks again!

Level 12

Mar 12, 2025 11:40:20 AM

@becky5000 wrote:
The last time I had to fill out a 709, we had my brother do it who was a CPA. Unfortunately he passed a few years ago.

I'm sorry for your loss. You did do the right thing, IMHO, by using a professional who was (obviously) familiar with the form and gift taxation.

However, the 709 you will now file will be somewhat more complex by virtue of the fact that you will have to list gifts from prior periods (Schedule B). I would recommend that you again seek a local professional if you wind up having any difficulty.

Good luck!

Level 15

Mar 12, 2025 11:46:57 AM

Another issue is that Turbotax does not do form 709

Level 12

Mar 12, 2025 1:24:01 PM

@Mike9241 wrote:
Another issue is that Turbotax does not do form 709

Last sentence in the very first post in this thread:

"Also wish that Turbotax would include this form in their product."

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Form 709 and Quit Claim Deeds