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Review of Form 709 – Gift Tax Return (709R)

  • Format Self-Study Download
  • Credits 2.00
  • Level Basic
  • Field of Study Taxes (2)

Overview

This course will enable practitioners to understand the basic practical issues of preparing the gift tax Form 709. This course covers the disclosure requirements and the information necessary to properly prepare the form.



Major Topics:

  • Form 709, gift tax reporting, and the effect of the lifetime exclusion
  • Present interest versus future interest
  • The annual exclusion – what qualifies and how is it calculated
  • Situations in which consenting spouses are not required to file Form 709
  • Gifts excluded from gift tax reporting
  • Adequate disclosure requirements and the statute of limitations
  • Proper gift tax reporting of front-end-loaded §529 qualified tuition plans
  • The inclusion of up-to-date revised forms and references
  • Calculation of unified credit and prior year credit recalculation
  • Calculation of additional credit for decedent spousal unused exemption (DSUE)

Learning Objectives:

  • Understand the proper preparation of Form 709
  • Identify the differing types of gifts, limits, and information required on Form 709

Who should take this course:

Accounting and Financial Professionals involved in the preparation of individual, gift, and information returns

None

None

Yes

No

No

QAS Approval Surgent
IRS Approval Surgent
CFP Approval Surgent
CTEC Approval Surgent
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