Can a late gift tax return for previous years be filed, without penalty, when no gift tax is owed?

[Anonymous_]

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@nc3man wrote:

......And we have been giving gifts, all less than the maximum allowed for all other years 2012-2023.

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@nc3man 

Again, it is NOT cumulative if your gifts do not exceed the annual exclusion amount for each tax year. If your gifts are less than the annual exclusion each year you will never have to file a 709 (unless you make a gift of a future interest).

[AS_LA]

Hello,

Found this thread and want to clarify a question:

If I provided a gift of $90,000 three years ago, which exceeds that year's gift tax exclusion amount, but did not file a form 709 - is it possible to still file a form 709 later on and it is acceptable?

Thanks!

[MarilynG1]

Yes, you can file a Gift Tax Return Form 709 for a prior year.  If tax is due, you may incur a penalty.

Here's a link for Prior Year Instructions for Form 709.

@AS_LA