Instructions For Form 709 - 2009 printable pdf download

2 0 09

Department of the Treasury

Internal Revenue Service

Instructions for Form 709

United States Gift (and Generation-Skipping Transfer) Tax Return

For gifts made during calendar year 2009.

•

Transfers subject to the federal gift and

even if the gift was under $13,000. See

Section references are to the Internal

certain generation-skipping transfer

Annual Exclusion on page 2.

Revenue Code unless otherwise noted.

•

(GST) taxes and to figure the tax, if any,

A husband and wife may not file a joint

For Disclosure, Privacy Act, and

due on those transfers and

gift tax return. Each individual is

•

Paperwork Reduction Act Notice, see

responsible for his or her own Form 709.

Allocation of the lifetime GST

•

page 12.

You must file a gift tax return to split

exemption to property transferred during

gifts with your spouse (regardless of their

the transferor’s lifetime. (For more details,

Use

see the instructions for Part 2 — GST

amount) as described in Part 1 — General

For Gifts

Revision of

Exemption Reconciliation on page 11,

Information on page 4. Form 709-A,

Made

Form 709

and Regulations section 26.2632-1.)

United States Short Form Gift Tax Return,

After

and

Before

Dated

is obsolete.

•

– – – – –

January 1,

November

All gift and GST taxes must be

If a gift is of community property, it is

1982

1981

computed and filed on a calendar

considered made one-half by each

year basis. List all reportable gifts

spouse. For example, a gift of $100,000

CAUTION

December

January 1,

January

made during the calendar year on one

of community property is considered a gift

31, 1981

1987

Form 709. This means, you must file a

of $50,000 made by each spouse, and

December

January 1,

December

separate return for each calendar year a

each spouse must file a gift tax return.

•

31, 1986

1989

1988

reportable gift is given (for example, a gift

Likewise, each spouse must file a gift

given in 2009 must be reported on a 2009

tax return if they have made a gift of

December

January 1,

December

Form 709). Do not file more than one

property held by them as joint tenants or

31, 1988

1990

1989

Form 709 for any one calendar year.

tenants by the entirety.

December

October 9,

October

•

Only individuals are required to file gift

31, 1989

1990

How To Complete Form 709

tax returns. If a trust, estate, partnership,

or corporation makes a gift, the individual

October 8,

January 1,

November

1. Determine whether you are

1990

1992

1991

beneficiaries, partners, or stockholders

required to file Form 709.

are considered donors and may be liable

2. Determine what gifts you must

December

January 1,

December

for the gift and GST taxes.

31, 1992

1998

1996

report.

•

The donor is responsible for paying the

3. Decide whether you and your

December

– – – – –

gift tax. However, if the donor does not

spouse, if any, will elect to split gifts for

31, 1997

pay the tax, the person receiving the gift

the year.

may have to pay the tax.

4. Complete lines 1 through 18 of

•

* Use the corresponding annual form.

If a donor dies before filing a return, the

Part 1, page 1.

donor’s executor must file the return.

5. List each gift on Part 1, 2, or 3 of

What’s New

Who does not need to file. If you meet

Schedule A, as appropriate.

•

all of the following requirements, you are

The annual gift exclusion for 2009

6. Complete Schedule B, if applicable.

not required to file Form 709:

increased to $13,000. See Annual

7. If the gift was listed on Part 2 or 3

•

You made no gifts during the year to

Exclusion on page 2.

of Schedule A, complete the necessary

•

your spouse,

For gifts made to spouses who are not

portions of Schedule C.

•

You did not give more than $13,000 to

U.S. citizens, the annual exclusion has

8. Complete Schedule A, Part 4.

any one donee, and

increased to $133,000. See Nonresident

9. Complete Part 2 on page 1.

•

All the gifts you made were of present

Aliens on page 3.

10. Sign and date the return.

interests.

Photographs of Missing

Gifts to charities. If the only gifts you

Remember, if you are splitting

made during the year are deductible as

Children

TIP

gifts, your spouse must sign line

gifts to charities, you do not need to file a

18, in Part 1, page 1.

return as long as you transferred your

The IRS is a proud partner with the

entire interest in the property to qualifying

National Center for Missing and Exploited

Who Must File

charities. If you transferred only a partial

Children. Photographs of missing children

interest, or transferred part of your

selected by the Center may appear in

In general. If you are a citizen or resident

interest to someone other than a charity,

instructions on pages that would

of the United States, you must file a gift

you must still file a return and report all of

otherwise be blank. You can help bring

tax return (whether or not any tax is

your gifts to charities.

these children home by looking at the

ultimately due) in the following situations.

•

photographs and calling

If you gave gifts to someone in 2009

If you are required to file a return to

1-800-THE-LOST (1-800-843-5678) if you

totalling more than $13,000 (other than to

report noncharitable gifts and you made

recognize a child.

your spouse), you probably must file

gifts to charities, you must include all of

Form 709. But see page 2 for information

your gifts to charities on the return.

General Instructions

on specific gifts that are not taxable and

Transfers Subject to the

for gifts to your spouse.

•

Gift Tax

Certain gifts, called future interests, are

Purpose of Form

not subject to the $13,000 annual

Generally, the federal gift tax applies to

Use Form 709 to report the following:

exclusion and you must file Form 709

any transfer by gift of real or personal

Cat. No. 16784X

Instructions For Form 709 - 2009

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