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CS2768
New Member

Gift tax form 709

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?

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3 Replies
M-MTax
Level 11

Gift tax form 709

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

 

CS2768
New Member

Gift tax form 709

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 11

Gift tax form 709

@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.

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