Form 709

Form 709, the Gift Tax Return, is an annual return. The purpose of form 709 is to determine the tax due, if any, on gifts made during the year. Clients should report any taxable gifts made during the year on form 709. The return is due at the same time as the client's 1040 if he or she is still living. At death, form 709 is due at the same time as federal estate tax form 706.

For Further Explanation

Generation-Skipping Transfer Tax

Synopsis of IRS Publication 448