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Wisconsin
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Wisconsin Gifts subcategories

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Wisconsin Gifts Detailed Guide

  • Gifts Wisconsin forms are documents that individuals use to report any gifts they have given or received that are subject to Wisconsin gift tax laws.

  • The main types of Gifts Wisconsin forms include the following:

    • Gift Tax Return (Form G-1): This form is used to report taxable gifts made by Wisconsin residents and non-residents who own property in Wisconsin. It should be filed by the donor.

    • Donee's Receipt (Form G-2): This form is used by the recipient of a gift to acknowledge and confirm the receipt of a gift subject to Wisconsin gift tax. It is typically filed by the recipient.

    • Wisconsin Gift Tax Annual Exclusion Election (Form G-5): This form is used to elect the annual exclusion for gifts made during the calendar year. It allows individuals to exclude certain gifts from being subject to Wisconsin gift tax.

  • To fill out Gifts Wisconsin forms, follow these steps:

    1. Obtain the appropriate form from the Wisconsin Department of Revenue website or local tax office.

    2. Read the instructions carefully and gather all the necessary information and supporting documents related to the gift(s).

    3. Fill in the form accurately and completely, providing details such as the donor's and recipient's personal information, gift description, and estimated value.

    4. Double-check all the information entered for accuracy and ensure that any required signatures are obtained.

    5. Submit the filled-out form to the Wisconsin Department of Revenue or follow the specific filing instructions mentioned in the form.