Free Download — Updated for 2025/2026
The Complete Gift Tax Planning Checklist
25 essential steps to ensure you never overpay on gift taxes. From annual exclusion calculations to Form 709 filing and advanced strategies — everything in one printable PDF.
25-point checklist
2026 sunset strategies
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What's Inside the Checklist
Five categories covering every aspect of gift tax planning — from basic calculations to advanced wealth transfer strategies.
1
Before You Give
- Determine the fair market value of the gift
- Check the current annual exclusion amount ($19,000 per recipient for 2025)
- Identify all gift recipients for the tax year
- Calculate total gifts per recipient (include all gifts, not just cash)
- Determine if gift splitting with spouse is beneficial
2
Tax Calculations
- Calculate taxable gifts (amount above annual exclusion per recipient)
- Track cumulative lifetime gifts against the lifetime exemption ($13.61M for 2025)
- Determine if any gift tax is actually owed
- Consider the 2026 exemption sunset impact on your strategy
- Review state-specific gift tax rules (Connecticut has its own gift tax)
3
Form 709 Filing
- Determine if Form 709 is required (gifts over $19,000 to any one person)
- Gather appraisals for non-cash gifts (real estate, stocks, business interests)
- Complete Schedule A (Computation of Taxable Gifts)
- Complete Schedule B (Gifts from Prior Periods) if applicable
- File by April 15 (or extension deadline) of the year following the gift
4
Advanced Strategies
- Evaluate direct tuition/medical payment exclusions (unlimited, no Form 709)
- Consider Crummey trust for future interest gifts
- Review GRAT/SLAT options for high-value transfers
- Assess 529 plan superfunding opportunity (5-year election)
- Coordinate with estate plan and lifetime exemption usage
5
Record Keeping
- Keep copies of all gift tax returns (Form 709) filed
- Maintain appraisal records for at least 6 years
- Document the donor's adjusted basis for gifted property
- Track annual exclusion usage per recipient per year
- Store gift letters and transfer documentation
25
Checklist Items
5
Planning Categories
2026
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