michaelmars Posted June 26, 2009 Report Share Posted June 26, 2009 taxpayer gave away $300,000 3 years and 2 weeks prior to death. No gift tax return was filed. the 706 requires any gifts within 3 years of death to be added back for estate tax purposes but this is outside the look-back period by 2 weeks. But since the gift return for the $300,000 was never filed does this gift have any effect on the estate? Quote Link to comment Share on other sites More sharing options...
RoyDaleOne Posted June 27, 2009 Report Share Posted June 27, 2009 Working from memory, I believe the personal representative is instructed to file any gift tax returns that should have been filed. I would guess that some of the unified credit will be used on the gift tax return. Quote Link to comment Share on other sites More sharing options...
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