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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 709
for the current year.
IRS Form 709 United States Gift (And Generation-Skipping Transfer) Tax Return
What Is IRS Form 709?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 709?A: IRS Form 709 is the United States Gift (And Generation-Skipping Transfer) Tax Return.
Q: Who needs to file IRS Form 709?A: Individuals who have made gifts or transfers subject to gift or generation-skipping transfer tax may need to file IRS Form 709.
Q: What is the purpose of filing IRS Form 709?A: The purpose of filing IRS Form 709 is to report and pay gift or generation-skipping transfer tax.
Q: What is gift tax?A: Gift tax is a tax imposed on the transfer of money or property to another person without receiving full value in return.
Q: What is generation-skipping transfer tax?A: Generation-skipping transfer tax is a tax on transfers of property to a person who is more than one generation younger than the transferor.
Q: When is IRS Form 709 due?A: IRS Form 709 is generally due on April 15th of the year following the calendar year in which the gift was made.
Q: Are there any exceptions or exclusions for gift tax?A: Yes, there are several exceptions and exclusions for gift tax, including the annual exclusion, medical and educational exclusions, and the lifetime exemption.
Q: Is professional assistance recommended for filing IRS Form 709?A: It is recommended to seek professional assistance, such as a tax accountant or tax attorney, for filing IRS Form 709.
Q: What are the consequences of not filing IRS Form 709?A: Failure to file IRS Form 709 or to report all required information may result in penalties and interest charges.
Form Details:
- A 5-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 709 through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 709 United States Gift (And Generation-Skipping Transfer) Tax Return
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