2025 Form 709

2025 Form 709 – Prior years credit recalculation (for form 709, schedule b, column (c)) (prior gift exceeds applicable. The form 709 must be filed by april 15 of the year following the year in which the gifts were made. With upcoming changes in estate tax laws in 2026, 2025 is an ideal time to make significant gifts and take full advantage of the current high lifetime exemption. Of the 10 numbered pages to the form 709, pages 1,2,3, and 6 would always be required.

The irs has issued a new form 709 to use for gifts that changes the steps a married couple must follow to make a split gift election. If you cannot file by this date, you can request an extension by filing form 4868, application for automatic extension of time to file u.s. If you file with just these 4 nonconsecutive numbered pages, the irs may process the form based on just the pages you submit. Form 709 and gift tax planning, along with clear instructions, are critical tools for minimizing estate taxes and ensuring smooth wealth transfers.

Can i file form 709 electronically? As mentioned above, attempts to fill in gift descriptions using the pdf form for the 709 provided by the irs were often futile. Most people will never have to pay any gift taxes.

Enter form 709. line 7: About publication 947, practice before the irs and power of attorney. One of the tax benefits of being married is the availability of the split gift election. making the election allows couples who are citizens or residents of the united states to treat.

File form 709 if you made any gift worth over an annual limit the prior year. In 2025, d gives a gift of $20,000 cash to b and no other gifts. Other items you may find useful.

For couples splitting gifts, if either spouse makes a gift that exceeds the couple’s combined annual gift tax. If you give more than $17,000 to a single individual in 2024 or 2025, you must file form 709 to report the excess. About publication 551, basis of assets.

Help with Form 709