Form 709 (Gift Tax)

4 replies
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Sorry for bringing this up again. I've learned a lot in this forum, but still nervous. I've never completed a Form 709 (Gift Tax). The gift is very simple, from myself and my wife, to our son and daughter-in-law. The gift amount exceeds our joint exemption. This is the first time either my wife, or I, have exceeded our annual exemption. I am concerned I might do something wrong filling in the form. Is there anyone available that knows this stuff that can complete the form for us? I don't have an accountant, I have always been able to complete our tax return myself, using TurboTax. Even examples of the completed form, with a similar scenario would help. Thanks everyone.

Not A Product Question

xmasbaby0

Level 15

TurboTax does not assist with Form 709 since it is not an income tax form. You do not prepare it as part of an individual income tax form. It is a separate tax form. If you have questions someone might respond in this forum, but you will not be able to get a TurboTax expert to take on a Form 709.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

JohnASmithAuthor

Level 4

Yes I knew that, I only mentioned TurboTax to explain why I don't have access to an accountant, or tax expert. I do understand that gift tax is totally separate from the income tax return. Thank you.