Marie Posted October 12, 2009 Report Share Posted October 12, 2009 Doing a Form 709 and 2009 will be the first gift over the $13,000 limit. I put in the gift on Sch A, but can't seem to get the unified credit amount to flow so no tax is due on the first page. Any suggestions? Also, the exclusion is $1m but if giver's assets are less than 3.5 m (for now, anyway) shouldn't be any problem in the end, am I correct? Quote Link to comment Share on other sites More sharing options...
ed_accountant Posted October 12, 2009 Report Share Posted October 12, 2009 Check with the 2008 IRS instructions for form 709. From memory, you can not file a 2009 gift tax return until the IRS issues the new 2009 forms. 2009 Gifts must filed with the 2009 forms.. You need to wait until forms are out which will be after Jan 1. The IRS instructions explain this.. Thanks Quote Link to comment Share on other sites More sharing options...
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