Fillable Form La 709 - Gift Tax Return Of Donor (Page 6 of 7) in pdf

Line 10 – Gift tax for current year – Subtract Line 9 from Line 8, and print the result.

Line 11 – Interest – Refer to the Tax Interest Rate Schedule (R-1111) for monthly interest rates that apply. Form R-1111

is available on LDR’s website at

Line 12 – Penalty–Multiply Line 10 by 5 percent for each 30 days or any portion thereof that the return is delinquent.

The total delinquent penalty shall not be greater than 25 percent of the tax. If payment for the total tax on Line 10 does

not accompany the return (or an estimated statement of tax due does not accompany a request for an extension), a late

payment penalty equal to 5 percent of the tax due for each 30 days, or portion thereof, will be assessed until the tax is

paid. However, combined delinquent penalty and late-payment penalty shall not be greater than 25 percent of the total tax

due.

Line 13 – Total amount due – Add Lines 10, 11, and 12, and print the result.

Line 14 – Amount paid with extension – Print the amount of any payment previously submitted with a request for an

extension to file.

Line 15 – Balance of tax due or refund due – Subtract Line 14 from Line 13, and print the result. If Line 14 is greater

than Line 13, print the amount of your refund. If Line 14 is smaller than Line 13, print the amount of tax due.

Schedule B – Total Gifts During Calendar Year

Item number – Identify each gift made during the calendar year using either numeral or alphabetical characters.

Donee’s name and address, description of gift – Print the name and address of each donee and a brief description of

the property transferred to the donee. A copy of the act of donation should accompany the return for gifts of real estate.

Indicate community or separate property – Use “C” or “S” to indicate whether the property donated is community or

separate property.

Date of gift – Print the date on which the gift was made.

Value of gift – Print the value of the gift on the date it was transferred. If the gift was made with the understanding that the

donee would pay the tax, the value of the gift can be reduced by the amount of the tax. If the gift was separate property

that you or your spouse have consented to split, only one-half its value should be listed. Your spouse must file a separate

return claiming the other one-half. See the instructions to Schedule D below.

Schedule C – Prior Year Gifts

Schedule C is applicable only if you made taxable gifts in prior years. If not, proceed to Schedule D.

Line 1A – If the answer to Line 1 is yes, print the lesser of $15,000 or the total amount of taxable gifts made in prior years.

Print this amount on Schedule A, Line 5.

Line 1B – Print the total amount of specific lifetime exemption claimed in prior years. This amount, plus any amount claimed

on Line 2B of Schedule A, may not exceed $30,000.

Schedule D – Consent for Gift Splitting of Separate Property

Schedule D is applicable only if you or your spouse have made a gift of separate property to a third party. In such instances,

R.S. 47:1205(C) provides that both spouses must consent to the gift splitting. Each party must file a separate return.

Line 1 – Print your spouse’s name: first name, middle initial, and last name.

Line 2 – Print your spouse’s Social Security Number.

Line 3 – Indicate whether you and your spouse were married during the entire calendar year. If yes, proceed to “Declaration

By Signature.” If no, complete Line 4.

Line 4 – Indicate married, divorced, or widowed and the date.

Form La 709 - Gift Tax Return Of Donor Page 6