This course provides an overview of gift tax reporting on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return. Learn who must file, when the return is due, and how annual exclusions and the lifetime gift and estate tax exemption affect reporting. Topics include gift splitting, donor basis, generation-skipping transfers, deceased spousal unused exclusion (DSUE), trusts, and 529 plan elections. Practical examples demonstrate how to complete key schedules and calculate gift tax.
