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Preparing and Filing the Federal Gift Tax Return (Form 709): A Practical Guide (GTR2)

  • Format Self-Study Webcasts
  • Credits 2.00
  • Level Basic
  • Field of Study Taxes (2)

Overview

Although federal transfer taxes affect a relatively small portion of estates, practitioners will still encounter clients whose lifetime transfers trigger reporting obligations and planning opportunities. Properly preparing and submitting a federal gift tax return requires understanding when filing is required, how gifts are characterized, and how lifetime transfers interact with future estate planning. This course introduces the mechanics involved in completing a basic federal gift tax filing and explains how accurate reporting supports both compliance and long-term tax planning.



Major Topics:

  • When lifetime transfers require federal reporting even if no tax is due
  • How exclusions and exemptions apply to outright gifts and gifts made through trusts
  • Treatment of transactions that are part gift and part sale
  • Valuation approaches for non-publicly traded assets and ownership interests
  • Interaction between lifetime transfers and generation-skipping transfer tax rules
  • Coordination of spousal transfer benefits and portability concepts
  • Step-by-step walkthrough of the federal gift tax return and required schedules

Learning Objectives:

  • Identify situations that require filing a federal gift tax return
  • Classify common types of gifts for reporting purposes
  • Apply valuation and allocation concepts at a practical level
  • Complete a basic gift tax return with supporting disclosures

Who should take this course:

Tax and estate planning professionals who want practical guidance on federal gift tax reporting requirements

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QAS Approval Surgent
IRS Approval Surgent
CFP Approval Surgent
CTEC Approval Surgent
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