Get the essential information you need to file Form 709 and save your clients from future estate tax problems.
Get the essential information you need to fill out and file Form 709 without worry. Transfer taxes are imposed on the gratuitous transfer of property. When property is transferred during lifetime, a gift tax may be imposed. While the most ignored tax, failure to properly comply with the gift tax laws during life may cause estate tax problems at death. Learn when a gift tax return should be filed, what type of gifts need to be reported, what type of information needs to be included to adequately disclose what is reported and the benefits of properly complying with the gift tax laws. By properly reporting gratuitous transfers during life, surprises at death can be avoided.
Speaker: Robert E. Barnhill III
Course Content
When and Where to File Form 709
How the Gift Tax Works and How It Is Computed
What Is a Gift and When Is It Taxed?
Exclusion and Deductions for Gift Taxes
- Annual Exclusion
- Marital and Charitable Deductions
- Medical and Educational Exclusions
Filling out Form 709
- Items to Report
- Information to Include With Return
- Discussion of Schedules
Overview of Generation-Skipping Taxes and Form 709, Schedule C