What Is Form 709?
IRS Form 709, officially titled "United States Gift (and Generation-Skipping Transfer) Tax Return," is the form used to report taxable gifts, calculate gift tax, and track the use of your lifetime exemption. It is filed by the donor (the person making the gift), not the recipient.
Key Point: Filing Form 709 does not mean you owe gift tax. It simply reports the gift and tracks your use of the lifetime exemption.
Who Must File Form 709?
You must file Form 709 if any of the following apply:
You gave any individual more than $19,000 during the calendar year
You and your spouse elected gift splitting (even if each half is under the annual exclusion)
You gave a future interest gift of any amount
You contributed to a 529 plan and elected the 5-year averaging
You gave to a non-citizen spouse more than the annual exclusion for non-citizen spouses
When to File
Regular Deadline
April 15
of the year following the gift
Extended Deadline
October 15
with Form 4868 extension
How to Complete Form 709
Form 709 consists of several parts. Here is a simplified overview:
General Information
Your name, SSN, address, and whether you're electing gift splitting.
Tax Computation
Calculates the tentative tax on current and prior gifts, then applies the unified credit.
Computation of Taxable Gifts
Lists each gift, its value, exclusions applied, and the net taxable amount.
Gifts From Prior Periods
Reports cumulative taxable gifts from all prior years.
GST Tax
For generation-skipping transfers (gifts to grandchildren, etc.).
Common Form 709 Mistakes
Forgetting to file when gift splitting (both spouses must file)
Not reporting gifts to 529 plans when using the 5-year election
Incorrectly valuing non-cash gifts (real estate, stocks, business interests)
Failing to report prior year taxable gifts on Schedule B
Missing the filing deadline (penalties apply even if no tax is owed)
Tax Software for Form 709
Several tax software platforms support Form 709 filing. Note that Form 709 cannot be e-filed — it must be mailed to the IRS.
TurboTax
Premier and higher tiers support Form 709
TaxAct
Includes Form 709 in paid tiers
Professional CPA
Recommended for complex gifts
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