Looking for a Form 709 Templates? Download it for free!

deduct on Schedule A. You may not make

GST tax also is considered a gift and must

Column A. If you filed returns for gifts

the election on a late filed Form 709.

be added to the value of the direct skip

made before 1971 or after 1981, show the

reported on this return.

calendar years in column A. If you filed

Line 5

returns for gifts made after 1970 and

If you entered gifts on Part 2, or if you

before 1982, show the calendar quarters.

Enter the amount of the annual exclusions

and your spouse elected gift splitting and

that were claimed for the gifts listed on

Column B. In column B, identify the IRS

your spouse made gifts subject to the GST

line 4.

office where you filed the returns. If you

tax that you are required to show on your

have changed your name, be sure to list

Form 709, complete Schedule D, and

any other names under which the returns

Line 7. Charitable Deduction

enter on line 10 the total from Schedule D,

were filed. If there was any other variation

Part 3, column H. Otherwise, enter zero on

You may deduct from the total gifts made

in the names under which you filed, such

line 10.

during the calendar year all gifts you gave

as the use of full given names instead of

to or for the use of:

initials, please explain.

Line 12. Election Out of QTIP

The United States, a state or political

Column C. To determine the amount of

subdivision of a state or the District of

Treatment of Annuities

applicable credit (formerly unified credit)

Columbia for exclusively public purposes;

Section 2523(f)(6) creates an automatic

used for gifts made after 1976, use the

Any corporation, trust, community

QTIP election for gifts of joint and survivor

Worksheet for Schedule B, Column C

chest, fund, or foundation organized and

annuities where the spouses are the only

(Credit Allowable for Prior Periods), unless

operated only for religious, charitable,

possible recipients of the annuity prior to

your prior gifts total $500,000 or less.

scientific, literary, or educational

the death of the last surviving spouse.

purposes, or to prevent cruelty to children

Prior gifts totaling $500,000 or less.

or animals, or to foster national or

In column C, enter the amount of

The donor spouse can elect out of

international amateur sports competition

applicable credit actually applied in the

QTIP treatment, however, by checking the

(if none of its activities involve providing

prior period.

box on line 12 and entering the item

athletic equipment unless it is a qualified

number from Schedule A for the annuities

Prior gifts totaling over $500,000.

amateur sports organization), as long as

for which you are making the election. Any

See Redetermining the Applicable Credit,

no part of the earnings benefits any one

annuities entered on line 12 cannot also

later.

person, no substantial propaganda is

be entered on line 4 of Schedule A, Part 4.

produced, and no lobbying or

Column D. In column D, enter the

Any such annuities that are not listed on

campaigning for any candidate for public

amount of specific exemption claimed for

line 12 must be entered on line 4 of Part 4,

office is done;

gifts made in periods ending before

Schedule A. If there is more than one such

A fraternal society, order, or association

January 1, 1977.

joint and survivor annuity, you are not

operating under a lodge system, if the

required to make the election for all of

Column E. In column E, show the correct

transferred property is to be used only for

them. Once made, the election is

amount (the amount finally determined) of

religious, charitable, scientific, literary, or

irrevocable.

the taxable gifts for each earlier period.

educational purposes, including the

encouragement of art and the prevention

See Regulations section 25.2504-2 for

of cruelty to children or animals; or

Schedule B. Gifts From

rules regarding the final determination of

Any war veterans' organization

Prior Periods

the value of a gift.

organized in the United States (or any of

its possessions), or any of its auxiliary

If you did not file gift tax returns for

Note. Amounts shown in column E should

departments or local chapters or posts, as

previous periods, check the “No” box on

reflect all taxable gifts, even if no gift tax

long as no part of any of the earnings

page 1 of Form 709, line 11a of Part

was paid due to the applicable (formerly

benefits any one person.

1—General Information. If you filed gift tax

unified) credit.

returns for previous periods, check the

Redetermining the Applicable

On line 7, show your total charitable,

“Yes” box on line 11a and complete

public, or similar gifts (minus annual

Schedule B by listing the years or quarters

Credit

exclusions allowed). On the dotted line,

in chronological order as described below.

To redetermine the Applicable Credit for

indicate which numbered items from the

If you need more space, attach a separate

prior gifts in excess of $500,000, use the

top of Schedule A are charitable gifts.

sheet using the same format as

Worksheet for Schedule B, Column C

Schedule B.

(Credit Allowable for Prior Periods).

Line 10. GST Tax

Complete Schedule A before

beginning Schedule B.

If GST tax is due on any direct skips

reported on this return, the amount of that

CAUTION

-12-

Instructions For Form 709 - United States Gift (And Generation-Skipping Transfer) Tax Return - 2017 Page 12

Related Articles

Related forms

Related Categories