Gift tax form 709

Forum|Forum|1 year ago
February 4, 2025
8 replies
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On schedule A, column d, I have donated stocks to a 501c3 using 3 different stocks. The column d is too small to enter the 5 different things they want-CUSPID, exchange, where incorporated, location, # shares. What is the solution to this?

also since I donated 3 different stocks, can I list as various securities or give each stock a separate line even though each line would be less than the exemption but as an aggregate, it is over the exemption?

Best answer by M-MTax

Back to my first post:

I donated three different securities to the charity that in aggregate were over $18k would I enter each on a separate line on Schedule A? And how do I fit all the information the irs want in column d?

Enter each security on a separate line.

You can also use more than one line for one security for the description. Alternatively, you can attach a separate sheet with the description.

M-MTax

Level 15

You do NOT need to file a 709 for gifts to recognized charities UNLESS you made noncharitable gifts. Did you do both?

CS2768Author

Level 2

Thanks

My understanding is if it is over the exemption amount it is entered on schedule A and then comes off on page 6-schedule A computation of taxable gifts on line 7- charitable deduction and that is subtracted from line page 6-total included amounts of gifts. Am I reading more into this than I need?

M-MTax

Level 15

@CS2768

Ref https://www.irs.gov/instructions/i709#en_US_2024_publink16784xd0e432

Gifts to charities.

If the only gifts you made during the year are deductible as gifts to charities, you do not need to file a return as long as you transferred your entire interest in the property to qualifying charities.

If you are required to file a return to report noncharitable gifts and you made gifts to charities, you must include all of your gifts to charities on the return.