INSTRUCTIONS: UNITED STATES GIFT (AND GENERATION-SKIPPING TRANSFER) TAX RETURN (Form 709)
Citizens or residents of the United States who made a gift whose value was $13,000 or greater in a tax year to someone other than their spouse should file a form 709. The instructions packet for this document stipulate other people who must file this return, found on the website of the Internal Revenue Service.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 1: Give all identifying information requested on lines 1 through 7.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 2: Lines 8 through 10 ask you if the donor died (if so, give their date of death), ask if you filed an extension, and ask for the total number of donees listed in Schedule A.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 3: Lines 11a and 11b ask if you have filed this return before. If so, document any address change from your previous return.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 4: Lines 12 through 18 concern gifts made to and by spouses.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 5: Complete Schedule A on the second and third pages. Transfer the value from line 11 there to line 1 of the first page.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 6: Complete Schedule B on the third page in order to complete line 2 on the first page.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 7: Add lines 1 and 2. Enter the sum on line 3.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 8: Compute your tax balance due as instructed on lines 4 through 6 due.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 9: Document credits and adjust your tax balance due as instructed on lines 7 through 15.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 10: Lines 16 through 20 adjust your tax liability on the basis of any applicable generation-skipping transfer taxes.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 11: The donor should sign and date the bottom of the page.
United States Gift (And Generation-Skipping Transfer) Tax Return 709 Step 12: Any paid preparer should sign and print their name and provide all requested identifying information.
