"IRS Form 709"
United States Gift (and Generation-Skipping Transfer) Tax Return

What is IRS Form 709 ?

Form 709 is a tax form used by individuals to report taxable gifts made during the year. Form must be filed by the donor, if they have made a gift that exceeds the annual exclusion amount. 

How the Form 709 Works ?

Form 709 is also used to allocate lifetime generation skipping tax exemptions, when transferring property to a beneficiary who is not related by marriage, adoption, or blood.

Who Must File Form 709 ?

Individuals who make gifts that exceed the annual exclusion amount in a given year are required to file Form 709 with the IRS. This includes gifts of property, cash, or any other assets.


Which Gifts are Exempted from Tax ?

Gifts made to a spouse who is a U.S. citizen, gifts to qualified charitable organizations, and payments made directly to educational or medical institutions on behalf of someone else.

IRS Gift Tax Annual Exclusion Limit

In 2023, the annual exclusion limit for gifts is $17,000. For married couples who file a joint return, this limit doubles to $34,000. The lifetime gift tax exemption is $12.92 million.

How to Get Form 709 ?

You can obtain Form 709 from the IRS website. You can either download a fillable PDF version of the form or request a paper copy to be mailed to you.

How to File IRS Form 709 ?

During any tax year in which you make a taxable gift, you must submit Form 709 unless you qualify for one of the aforementioned exemptions. Form 709 must be printed and mailed to the IRS.

How to Fill Out IRS Form 709 ?

click here to fill out

IRS Form 709 is used to report gifts that are subject to federal gift and generation-skipping transfer taxes. Here's how to fill out IRS gift tax form.