Gift Tax filing support

[dhawal_kumar]

Does Turbo Tax offer any support for preparing gift tax form 709 such as software or review/filling form 709 via CPAs? If not, do you have any recommendation? I have comes across the following

1. https://pdftax.com/
2. https://www.gillettpublishing.com/gem709.php 

I have seen the following from 2019 and am wondering if anything has changed

https://ttlc.intuit.com/community/taxes/discussion/how-do-i-file-gift-tax-return-with-turbo-tax/01/2...

[xmasbaby0]

Gifts given to family members, friends or other individuals are not deductible.   Gifts received are not taxable to the person who received the gift, and are not entered on a tax return.

If your gift exceeds the yearly limit ($17,000 per individual)  imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form and send it to the IRS, although it is very unlikely that you will owe any tax.    In 2024 that yearly limit will increase to $18,000.

TurboTax does not support Form 709.  It is not an income tax form and would not be included as part of an income tax return.

Here is a link to the form:

https://www.irs.gov/pub/irs-pdf/f709.pdf

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

[evelynm]

We don't support Form 709, but you can download it from the IRS website and fill it out per the Form 709 instructions.  You may not necessarily need to file a gift tax return as the limitations have increased.    Review this article for further details:  Gift Tax Made Simple 

Here is the link to the IRS Form 709:  IRS Form 709 and instructions 

[dhawal_kumar]

Thanks xmasbaby0. The second link you posted reads "With TurboTax Live Full Service, a local expert matched to your unique situation will do your taxes for you start to finish". Is it referring to income tax or gift tax (form 709) or both?

[xmasbaby0]

That refers to an income tax return.  TT does not prepare 709 forms.