Virtual
Form 709 Guidance: Gift Tax and Generation-Skipping Transfer Returns 2024
Date: Dec. 19, 2024
Time: 10 a.m. – 12 p.m. PT
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.
Product Code
1000002970-126419
Credit Type
CPE: 2CPE-Technical: 2IRS-TX: 2MCLE LS-EP: 2Accessibility
Closed Captioning Available
Intended Audience
CPAs, attorneys, enrolled agents and professional staff.
NASBA Field of Study
Taxes
Level of Difficulty
Intermediate
Prerequisites
Understanding basic estate and trust terminology, and what constitutes a gift in this context.
Advance Preparation
None
Learning Objectives
Major Subjects
- 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 skips
Faculty
Additional Details
This is a pre-recorded broadcast. The Instructor will be available to answer questions via the chat feature.