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.
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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.
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.
Here is a post from Yahoo Finance with some information about completing the form.
Thank you, I'll check that out.
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