Instructions For Form Ct-709 - Connecticut Estate And Gift Tax Return

of its auxiliary departments of local chapters or

Line 10

posts, as long as no part of any of the earnings

Subtract Line 9 from Line 8 and enter the balance on

benefits any one person.

Line 10. This is the marital deduction that can be claimed

Line 12

for the year. If a terminable interest is given to a spouse

Add Line 10 and Line 11 and enter the amount on

and a QTIP election is made, the value of the property

Line 12. This is the total of the marital deduction and the

transferred should equal the amount on Line 10.

charitable gift deduction.

Line 11

Line 13

If you are claiming a deduction for charitable gifts, enter

Subtract Line 12 from Line 7 and enter the balance on

your total charitable, public, or similar gifts (minus

Line 13. This is the amount of taxable gifts for the year.

exclusions allowed) on Line 11 and enter (on the short

The amount from Line 13 is also entered on Form

line) the item number(s) of the gift(s) from Schedule A

CT-709, Section 2, Line 1.

that you are deducting on Line 11. You may deduct

from the total amount of gifts made during the calendar

Terminable Interest Marital Deduction

year all gifts you gave to or for the use of:

Line 14

• The United States, a state or political subdivision

Check the box if an election is made under I.R.C. §2523(f)

of a state or the District of Columbia, for

exclusively public purposes;

for terminable interest transfers to a spouse, enter the item

• Any corporation, trust, community chest, fund

numbers (from Form CT-709, Schedule A) of the gifts

or foundation organized and operated only for

for which you made this election on the space provided.

religious, charitable, scientific, literary or

Line 15

educational purposes, or to prevent cruelty to

children or animals, or to foster national or

Check the box on Line 15 if the transferor wishes to elect

international amateur sports competition (if none

out of the automatic QTIP treatment for certain annuities.

of its activities involve providing athletic

(I.R.C. §2523(f)(6) creates an automatic QTIP election

equipment, unless it is a qualified amateur sports

for gifts of joint and survivor annuities where the spouses

organization), as long as no part of the earnings

benefits any one person, no substantial

are the only possible recipients of the annuity prior to the

propaganda is produced, and no lobbying or

death of the last surviving spouse.) Then enter the item

campaigning for any candidate for public office

number from Form CT-709, Schedule A, for the

is done;

annuities for which he or she is making the election.

• A fraternal society, order or association

operating under a lodge system, if the transferred

Any annuities entered on Line 15 cannot also be entered

property is to be used only for religious,

on Schedule A, Line 8. Any such annuities that are not

charitable, scientific, literary or educational

listed on Line 15 must be entered on Schedule A, Line 8.

purposes, including the encouragement of art and

If there is more than one such joint and survivor annuity,

the prevention of cruelty to children or animals;

the donor is not required to make the election for all of

• Any war veterans organization organized in the

them. However, once made, the election is irrevocable.

United States (or any of its possessions) or any

CONNECTICUT GIFT TAX RETURN ATTACHMENTS

Attach a complete copy of federal Form 709, United

greater than the amount shown on federal Form 712,

States Gift (and Generation-Skipping Transfer) Tax

Line 56. In these situations, you should report the

Return, including all attachments.

true economic value of the policy.

A donor claiming special valuation on a gift of

For gifts of stock of closely held or inactive

farmland must attach a sworn statement, Schedule

corporations, attach the balance sheet for the period

CT-709 FARMLAND, as to the fair market value of

nearest the date of the gift, statements of net earnings

the farmland, based on its highest and best use value,

or operating results and dividends paid for each of

as of the time of the transfer, and must also provide a

the five preceding years, and a concise statement of

copy to the donee(s).

the method of valuation.

For each gift of a life insurance policy, attach a copy

Any other documents, such as appraisals required

of federal Form 712, Life Insurance Statement.

for adequate explanation of value must be attached to

the return. If no appraisal is attached to show how

For single premium or paid-up policies, where the

property is valued, explain in detail how value was

surrender value of the policy exceeds its replacement

determined.

cost, the true economic value of the policy will be

Please remember to fill out all required returns and schedules and attach all required

Page 15

information or your return will be incomplete.

Instructions For Form Ct-709 - Connecticut Estate And Gift Tax Return - 1999 Page 15

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