Reporting of Gifts for Purposes of the Federal Gift Tax

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Jun 29, 2022

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If you gift more than $15,000 — $30,000 with your spouse — annually to one person or to as many people as you wish — in a calendar year – and even though you are shielded from Gift Tax liability because of the unified credit — you have made a taxable gift and are required to file a Gift Tax return, Form 709.

You do not have to file a return to report gifts to your spouse regardless of the amount of the gift and regardless of whether the gifts are present or future interests.

If the only gifts you made during the year are deductible gifts to charities, you must still file a return if any of the gifts were of future interests or exceeded $14,000 in 2015, 2016 and 2017.

As with the income tax return, the Gift Tax return 709 is due on April 15 of the year following the year in which you made the gift. The Gift Tax (if any) is due at the time of filing the return. Extensions are available, but interest will be charged from the regular due date of the return.

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