Preparing Form 709 - What You Need to Know About Filing a Gift Tax Return

Sep 19, 2026

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Webinar materials focused on preparing IRS Form 709 to report federal gift tax and certain generation-skipping transfer (GST) transfers, compute any tax due, and allocate lifetime GST exemption for lifetime transfers. Covers learning objectives such as preparing a basic Form 709, explaining the deceased spousal unused exclusion (DSUE), and identifying which gifts must be included. Provides step-by-step instructions for determining filing requirements, completing general information and schedules, tax computation, and signing the return.

LanguageEnglish

CategoryLetters

FormatPDF

Pages79

Reading Time28 min

AccessFree to download

Learning Objectives

Purpose of the Form 709

How to Complete the Form 709

Who Must File the Form 709

Who Must File the Form 709 (examples and rules)

Who Does Not Need to File Form 709

Gifts to Spouse

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REUTERS / Eloy Alonso
CHECKPOINT LEARNING® WEBINARS | | | --- | --- | | Preparing Form 709: What You Need to Know About Filing a Gift Tax Return | | Preparing Form 709: What You Need to Know About Filing a Gift Tax Return Presented by: Brian Eisenmenger, CPA, MST | Copyright 2021 Thomson Reuters All Rights Reserved
This course, or parts thereof, may not be reproduced in another document or manuscript in any form without the permission of the publisher.
This material is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
—From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations.
The Thomson Reuters content in this webinar is copyright protected.
If your certificate of attendance has been issued by anyone other than Thomson Reuters, this material has been obtained in violation of copyright law. | | | | --- | --- | --- | | 3 | Preparing Form 709: What You Need to Know About Filing a Gift Tax Return | | | Brian Eisenmenger, CPA, MST | | | --- | --- | | Brian Eisenmenger is a CPA located in Wheaton, Illinois. His practice concentrates in serving corporate executives and successful small business owners with their tax planning needs.
Brian earned his undergraduate degree in accounting from Eastern Illinois University and his Masters of Science in Taxation from Northern Illinois University.
You can follow Brian on Twitter @EisenmengerCPAs |
| | Learning Objectives
Upon completion of this webinar, participants should be able to—• Explain how to prepare a basic Form 709.
• Explain the deceased spousal unused exclusion (DSUE) .
• Identify which gifts are included on the return. | | | | --- | --- | --- | | 5 | Preparing Form 709: What You Need to Know About Filing a Gift Tax Return | | Purpose of the Form 709 The form 709 is used to report— • Transfers subject to the federal gift tax and certain generation-skipping transfer (GST) taxes and to determine any tax due, if any, on those transfers, and • Allocation of the lifetime GST exemption to property transferred during the transferor’s lifetime. | Purpose of the Form 709
• All gift and GST taxes must be computed and filed on a calendar year basis.
• All reportable gifts made during the calendar year are listed on one Form 709. Do not file more than one Form 709 for any one calendar year. | | | | --- | --- | --- | | 7 | Preparing Form 709: What You Need to Know About Filing a Gift Tax Return | | How to Complete the Form 709 1. Determine whether you are required to file Form 709. 2. Determine what gifts you must report. 3. Decide whether you and your spouse will elect to split gifts for the year. 4. Complete lines 1 through 19 of Part 1 – General Information. 5. List each gift on Part 1, 2, or 3 of Schedule A, as appropriate. How to Complete the Form 709 6. Complete Schedules B, C, and D as applicable. 7. If the gift was listed on Part 2 or 3 of Schedule A, complete the necessary portions of Schedule D. 8. Complete Schedule A, Part 4. 9. Complete Part 2 – Tax Computation. 10. Sign and date the return. 9 Preparing Form 709: What You Need to Know About Filing a Gift Tax Return Who Must File the Form 709 • If you gave gifts to someone in the current year totaling more than $15,000 (other than to your spouse) . • Certain gifts called “Future Interests” are not subject to the $15,000 annual exclusion and you must file Form 709 even if the gift was under $15,000 . | Who Must File the Form 709
• Spouses may not file a joint gift tax return. Each individual is responsible for his or her own Form 709.
• You

FAQs

When is Form 709 required?

Form 709 is required when gifts to someone (other than a spouse) total more than $15,000 during the year. It’s also required for certain “future interests” even if the gift is under $15,000.

Can spouses file one joint gift tax return?

Spouses may not file a joint gift tax return; each individual is responsible for their own Form 709. Gift-splitting may require filing even regardless of the amount.

Who is responsible for filing if the donor dies before filing?

If the donor dies before filing a return, the donor’s executor must file the return. The materials also note that the donor is generally responsible for paying the gift tax, but the recipient may have to pay if the donor does not.

Sep 19, 2026

Upload by Bintang