If I made a $30K gift to an individual, do I put $30K on Form 709? Or 30K less the annual gift exemption ($15K?)?
If I made a $30K gift to a trust, do I put $30K on Form 709?
TIA
- posted
2 years ago
Form 709 U.S. Gift Tax Return
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- posted
2 years ago
First of all, for 2022 the annual exemption amount is $16,000.
As for your question, just look at the form (2021 version). On part 4 line 1 you put down total gifts (in your case $30,000). Then on line 2 you subtract applicable annual exclusions.