EST2501P. The NEW Form 709

This course provides an important refresher regarding preparing gift tax returns — Form 709. For clients who exceed the annual exclusion amount by a few dollars and gift simple assets, most practitioners can work through the form without much coaching or experience. However, given the large estate tax exclusion, the volume of complex gift tax returns has decreased, along with the repetition practitioners need to stay sharp. This course is meant to provide both the basics and identify traps for the unwary.

Learning Objectives:

• Recall the information and steps required to file a simple Form 709.
• Identify how to file returns that run the statute of limitations.
• Apply the basic mathematics of gift, estate, and generation-skipping transfer (GST) taxes to help clients make efficient choices and elections.