IRS Form 709 (Gift Tax Return) Example Reporting for Charitable Contributions - Step-by-Step Guide

[@danajones8685]

Thank You! Really well presented, and easy to follow.

[@JasonDKnott]

Glad it was helpful!

[@johncasey502]

Thanks Jason! Your videos concerning Form 709 are fantastic!

[@JasonDKnott]

Glad you like them!

[@Mr_G_252]

Great job! Thanks for making such a clear and concise video.

[@JasonDKnott]

Glad it was helpful. Thanks for the support!

[@tohatchi005]

Do you have a template that I can download for that additional statement?

[@BarryS-z1r]

Suppose a taxpayer has many charitable organizations that he/she gives money to. Do all of the charitable organizations need to be listed on the “attached” sheet?

[@rickwolfe2789]

Thanks for these videos! If she used the standard deduction on her 1040 would the charitable contribution need to be enter onto form 709?

[@BrilloHead]

No. Unless she made a taxable gift to someone that exceed the 2023 annual gift exclusion or to any non charitable organizations.

[@TomInDenver5536]

Thank you!

[@BrilloHead]

The reason Jane even has to pay taxes on gifts is because her gift to Sarah exceeds 17k allowance for 2023. Had she given Sarah just 17k in 2023 as a gift, Jane could have avoided filing Form 709 altogether. Therefore avoiding the gift tax altogether.

[@NANLIT90]

This could have easily been done since in the scenario the gift was in late December 2023. At that point, just do 17k in December and the 8k remainder in January 2024 (if it were real of course and not an example like this is).