Form 709 Guidance: Gift Tax and Generation-Skipping Transfer Returns 25-26
2.00 Credits
Member Price $99
Non-Member Price $129
Overview
Form 709 is filed by many tax practitioners but are frequently filed incorrectly. Especially troublesome is reporting the gift correctly on Schedule A, making the correct GST allocations and meeting the adequate disclosure requirements. This program will review common problems for preparers and provide examples of presentations for many of the frequently reported gifts in recent years.
Highlights
Review of sample returns with illustrations of most forms of gifts How to meet the adequate disclosure requirements Community property gifts vs. gift splitting, use of DSUEA from a pre-deceased spouse Electing in or out of GST allocations with indirect skipsPrerequisites
Understanding basic estate and trust terminology, and what constitutes a gift in this context.
Designed For
CPAs, attorneys, enrolled agents and professional staff.
Objectives
Determine whether to report the gift on Part 1, 2 or 3 of Schedule A Recognize why adequate disclosure is important to limit the time for the IRS to audit the 709 Identify clear presentation of numerous types of gifts through various examples providedPreparation
None
Leader(s):
Leader Bios
Donita Joseph, CalCPA Education Foundation
Donita M. Joseph, CPA, MBT has more than 30 years of experience in taxation issues involving estate and trust tax planning and is responsible for the firm’s Estate & Trust practice. As a partner in the firm’s Tax & Accounting Services department, she also services the needs of privately held companies and individuals. Donita’s expertise includes preparation of estate tax, gift tax, and fiduciary income tax returns, estate planning, post mortem planning, charitable trust planning and compliance, trust and estate administration, trust and estate accounting, and income tax planning for individuals.
Non-Member Price $129
Member Price $99