Description
This course will enable practitioners to understand the basic practical issues of preparing the gift tax Form 709. This course covers the disclosure requirements and the information necessary to properly prepare the form.
Highlights
- Form 709: gift tax reporting; the effect of the lifetime exclusion
- Present interest versus future interest
- The annual exclusion, what qualifies and how is it calculated
- When are consenting spouses not required to file Form 709
- What gifts are excluded from gift tax reporting
- Adequate disclosure requirements and the statute of limitations
- Proper gift tax reporting of front-end loaded §529 qualified tuition plans
- The inclusion of up-to-date revised forms and references
- Calculation of unified credit and prior years credit re-calculation
- Calculation of additional credit for decedent spouses unused exemption (DSUE)
Objectives
- Introduction to the proper preparation of Form 709.
- Understanding the differing types of gifts, the limits, and information required on Form 709.
Designed For
CPAs involved in the preparation of individual, gift, and information returns
Course Pricing
WYOCPA Member Fee
$39.00
Non-Member Fee
$51.00
Your Price
$51.00
Upcoming Courses
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Office 365 - Take Your Office on the Road With Mobile Apps
January 22, 2021
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Critical Thinking for Financial Professionals
January 22, 2021
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Surgent's Preparing Individual Tax Returns for New Staff and Para-Professionals (PITR)
January 22, 2021
View all upcoming courses