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  • 2000 Form 709 Instructions

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E gratuitous transfer of any kind of property, but also to sales or exchanges, not made in the ordinary course of business, where money or money's worth is exchanged but the value of the money (or property) or money's worth received is less than the value of what is sold or exchanged. The Cat. No. 16784X gift tax is in addition to any other tax, such as Federal income tax, paid or due on the transfer. The exercise or release of a general power of appointment may be a gift by the individual poss.

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The gift tax applies to the transfer by gift of any type of property. You make a gift if you give property (including money), or the use of or income from property, without expecting to receive something of at least equal value in return.

Federal Estate and Gift Tax Rates, Exemptions, and Exclusions, 1916-2014 YearEstate Tax ExemptionAnnual Gift Tax Exclusion1999$650,000$10,0002000-01$675,000$10,0002002$1,000,000$11,0002003$1,000,000$11,00033 more rows • Feb 4, 2014

Form 709 must be filed each year that you make a taxable gift and included with your regular tax return.

IRS Form 709 – Filing Requirements Generally, Form 709: U.S. Gift (and Generation-Skipping Transfer) Tax Return is required if any of the following apply: An individual makes one or more gifts to any one person (other than his or her citizen spouse) that are more than the annual exclusion for the year.

Gift tax limit 2022 The gift tax limit for 2022 was $16,000. This amount, formally called the gift tax exclusion, is the maximum amount you can give a single person without reporting it to the IRS.

In general. If you are a citizen or resident of the United States, you must file a gift tax return (whether or not any tax is ultimately due) in the following situations. totaling more than $16,000 (other than to your spouse), you probably must file Form 709.

Making a gift or leaving your estate to your heirs does not ordinarily affect your federal income tax.

Thus, you must file a gift tax return to report any gift of a future interest (regardless of amount) or to report gifts to any donee that total more than $10,000 for the year.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232