Federal United States Gift (and Generation-Skipping Transfer) Tax Return

United States Gift (and Generation-Skipping Transfer) Tax Return
2024 Form 709
Form

709

United States Gift (and Generation-Skipping Transfer) Tax Return

OMB No. 1545-0020

Go to www.irs.gov/Form709 for instructions and the latest information.

2024

Department of the Treasury
Internal Revenue Service

Part I

(For gifts made during calendar year 2024)

General Information

1 Donor’s first name and middle initial

2 Donor’s last name

3 Donor’s social security number

4 Address (number and street). If you have a P.O. box, see instructions.

5 Apt. no.

6 City, town, or post office. If you have a foreign address, also complete spaces below.

7 State

8 ZIP code

9 Foreign country name

10 Foreign province/state/county

11 Foreign postal code

12 Legal residence (domicile)

13 Citizenship (see instructions)

14
15

If the donor died during the year, check here
If an amended return, check here

16
17
18a

If you extended the time to file this Form 709, check here
Enter the total number of donees listed on Schedule A. Count each person only once
Have you (the donor) previously filed a Form 709 (or 709-A) for any other year? If “No,” skip line 18b

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Has your address changed since you last filed Form 709 (or 709-A)? .

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b

and enter date of death

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19

Gifts by spouses to third parties. Did you and your spouse make gifts to third parties? See instructions. (If the answer is “Yes,”
complete Part III on page 2.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

20

Have you applied a deceased spousal unused exclusion (DSUE) amount received from a predeceased spouse to a gift or gifts
reported on this or a previous Form 709? If “Yes,” complete Schedule C
. . . . . . . . . . . . . . . .

21

Does any gift or other transfer reported on this Form 709 include a digital asset (or a financial interest in a digital asset)? See instructions

Part II

Enter the amount from Schedule A, Part 4, line 11
Enter the amount from Schedule B, line 3 . . .

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1
2

3
4
5

Total taxable gifts. Add lines 1 and 2 . . . . . . . . . . . . . . .
Tax computed on amount on line 3 (see Table for Computing Gift Tax in instructions) .
Tax computed on amount on line 2 (see Table for Computing Gift Tax in instructions) .

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3
4
5

6

Balance. Subtract line 5 from line 4

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6

7

Applicable credit amount. If donor has DSUE amount from predeceased spouse(s) or Restored Exclusion Amount,
enter amount from Schedule C, line 5; otherwise, see instructions
. . . . . . . . . . . . . .

8
9

Enter the applicable credit against tax allowable for all prior periods from Schedule B, line 1, col. (c)
Balance. Subtract line 8 from line 7. Do not enter less than zero . . . . . . . . . . .

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7
8
9

10

Enter 20% (0.20) of the amount allowed as a specific exemption for gifts made after September 8, 1976, and
before January 1, 1977. See instructions . . . . . . . . . . . . . . . . . . . . . .

11
12

Balance. Subtract line 10 from line 9. Do not enter less than zero .
Applicable credit. Enter the smaller of line 6 or line 11 . . . .

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10
11
12

13
14
15

Credit for foreign gift taxes. See instructions . . . . . . .
Total credits. Add lines 12 and 13 . . . . . . . . . .
Balance. Subtract line 14 from line 6. Do not enter less than zero .

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13
14
15

16
17
18

Generation-skipping transfer taxes from Schedule D, Part 3, col. (g), total . .
Total tax. Add lines 15 and 16 . . . . . . . . . . . . . . .
Gift and generation-skipping transfer taxes prepaid with extension of time to file

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16
17
18

19
20

If line 18 is less than line 17, enter balance due. See instructions .
If line 18 is greater than line 17, enter amount to be refunded
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Under penalties of perjury, I declare that I have examined this return, including any accompanying schedules and
statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer
(other than donor) is based on all information of which preparer has any knowledge.

Preparer’s name

May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes
No

Date

Signature of donor

Paid
Preparer
Use Only

No

Tax Computation

1
2

Sign
Here

Yes

Preparer’s signature

Date

Firm’s name
Firm’s address

For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see the instructions for this form.

Check
if
self-employed

PTIN

Firm’s EIN
Phone no.
Cat. No. 16783M

Form 709 (2024)

Page 2

Form 709 (2024)

Part III

Spouse’s Consent on Gifts to Third Parties

1

Gifts by spouses to third parties. Do you consent to have the gifts (including generation-skipping transfers) made by you and
by your spouse to third parties during the calendar year considered as made one-half by each of you? See instructions. (If the
answer is “Yes,” the following information must be furnished. If the answer is “No,” skip lines 2–7.) . . . . . . . .

2
3

Name of consenting spouse
SSN of consenting spouse

4

Were you married to one another during the entire calendar year? See instructions
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married
divorced or
widowed/deceased, and give date. See instructions
If line 4 is “No,” check whether

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5
6

Will a gift tax return for this year be filed by your spouse? If “Yes,” mail both returns in the same envelope

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7

Consent of Spouse. Have you obtained required spousal consent for gifts made to third parties to be considered as made
one-half by each spouse? If “Yes,” you must attach a Notice of Consent. See instructions . . . . . . . . . . .

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Yes

No

Form 709 (2024)

Page 3

Form 709 (2024)

SCHEDULE A
A
B

Computation of Taxable Gifts (Including transfers in trust) (see instructions)

Does the value of any item listed on Schedule A reflect any valuation discount? If “Yes,” attach explanation . . . . . . . . . . . . . .
If you elect under section 529(c)(2)(B) to treat any transfers made this year to a qualified tuition program as made ratably over a 5-year period, check here

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Yes
No
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. See instructions. Attach a statement.

Part 1—Gifts Subject Only to Gift Tax. Gifts less political organization, medical, and educational exclusions.
(a)
Item
number

(b)
Donee’s name and address

(c)
Relationship
to donor
(if any)

(d)
Description of gift

(e)
(f)
Donor’s
Date of gift
adjusted basis
of gift

(g)
Value at
date of gift

(h)
For split
gifts, enter
1/2 of
column (g)

(i)
Net transfer
(subtract col.
(h) from col.
(g))

Check boxes where applicable
(j)
(k)
(l)
(m)
Reserved Charitable Deductible 2652(a)(3)
for future
gift
gift to
election
use
spouse

Gifts made by spouse—complete only if you are splitting gifts with your spouse and spouse also made gifts.

Total of Part 1. Add amounts from Part 1, column (i) .
(If more space is needed, attach additional statements.)

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Form 709 (2024)

Page 4

Form 709 (2024)

SCHEDULE A

Computation of Taxable Gifts (Including transfers in trust) (see instructions) (continued)

Part 2—Direct Skips. Gifts that are direct skips and are subject to both gift tax and generation-skipping transfer tax. You must list the gifts in chronological order.
(a)
Item
number

(b)
Donee’s name and address

(c)
Relationship
to donor (if
any)

(d)
Description of gift

(e)
Donor’s adjusted
basis of gift

(f)
Date of gift

(g)
Value at date of
gift

(h)
For split gifts,
enter 1/2 of
column (g)

Check boxes
(i)
where applicable
Net transfer
(subtract col. (h)
(j)
from col. (g))
2632(b)
election out

Gifts made by spouse—complete only if you are splitting gifts with your spouse and spouse also made gifts.

Total of Part 2. Add amounts from Part 2, column (i) .
(If more space is needed, attach additional statements.)

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Form 709 (2024)

Page 5

Form 709 (2024)

SCHEDULE A

Computation of Taxable Gifts (Including transfers in trust) (see instructions) (continued)

Part 3—Indirect Skips and Other Transfers in Trust. Gifts to trusts that are indirect skips as defined under section 2632(c) or to trusts that are currently subject to gift tax and may later be
subject to generation-skipping transfer tax. You must list these gifts in chronological order.
(a)
Item
number

(b)
Donee’s name and address

(c)
Relationship
to donor (if
any)

(d)
Description of gift

(e)
(f)
Donor’s
Date of gift
adjusted basis
of gift

(g)
Value at
date of gift

(h)
For split
gifts, enter
1/2 of
column (g)

(i)
Net transfer
(subtract col.
(h) from col.
(g))

Check boxes where applicable
(j)
(k)
(l)
(m)
Reserved Charitable Deductible 2652(a)(3)
for future
gift
gift to
election
use
spouse

(n)
2632(c)
election

Gifts made by spouse—complete only if you are splitting gifts with your spouse and spouse also made gifts.

Total of Part 3. Add amounts from Part 3, column (i) .
(If more space is needed, attach additional statements.)

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Form 709 (2024)

Page 6

Form 709 (2024)

SCHEDULE A

Computation of Taxable Gifts (Including transfers in trust) (see instructions) (continued)

Part 4—Taxable Gift Reconciliation
1
2

Total value of gifts of donor. Add totals from column (i) of Parts 1, 2, and 3 .
Total annual exclusions for gifts listed on line 1 (see instructions) . . . .

3
Total included amount of gifts. Subtract line 2 from line 1
Deductions (see instructions)

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1
2

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3

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8
9
10

4

Gifts of interests to spouse for which a marital deduction will be claimed. Enter the total value of items on Parts 1 and 3 of Schedule A for
which the box in column (l) is checked
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5

Exclusions attributable to gifts on line 4

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4
5

6

Marital deduction. Subtract line 5 from line 4 .

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6

7

Charitable deduction. Enter the total value of items on Parts 1 and 3 of Schedule A for which the box in column (k) is checked, less
exclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Total deductions. Add lines 6 and 7
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9
Subtract line 8 from line 3 . . . . . . . . . . . . . . . . . . . . . . . .
10
Generation-skipping transfer taxes payable with this Form 709 (from Schedule D, Part 3, col. (g), total) . .
11
Taxable gifts. Add lines 9 and 10. Enter here and on page 1, Part II—Tax Computation, line 1 . . . .
Qualified Terminable Interest Property (QTIP) Marital Deduction (See instructions for Schedule A, Part 4, line 4.)

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11

If a trust (or other property) meets the requirements of qualified terminable interest property under section 2523(f), and:
a. The trust (or other property) is listed on Schedule A; and
b. The value of the trust (or other property) is entered in whole or in part as a deduction on Schedule A, Part 4, line 4, then the donor shall be deemed to have made an election to have such trust (or
other property) treated as qualified terminable interest property under section 2523(f).
If less than the entire value of the trust (or other property) that the donor has included in Parts 1 and 3 of Schedule A is entered as a deduction on line 4, the donor shall be considered to have
made an election only as to a fraction of the trust (or other property). The numerator of this fraction is equal to the amount of the trust (or other property) deducted on Schedule A, Part 4, line 6.
The denominator is equal to the total value of the trust (or other property) listed in Parts 1 and 3 of Schedule A.
If you make the QTIP election, the terminable interest property involved will be included in your spouse’s gross estate upon your spouse’s death (section 2044). See instructions for line 4 of
Schedule A. If your spouse disposes (by gift or otherwise) of all or part of the qualifying life income interest, your spouse will be considered to have made a transfer of the entire property that is
subject to the gift tax. See Transfer of Certain Life Estates Received From Spouse in the instructions.
12

Election Out of QTIP Treatment of Annuities
Check here if you elect under section 2523(f)(6) not to treat as qualified terminable interest property any joint and survivor annuities that are reported on Schedule A and would otherwise be
treated as qualified terminable interest property under section 2523(f). See instructions. Enter the item numbers from Schedule A for the annuities for which you are making this election.
Form 709 (2024)

Page 7

Form 709 (2024)

SCHEDULE B

Gifts From Prior Periods

If you answered “Yes” on line 18a of page 1, Part I, see the instructions for completing Schedule B. If you answered “No,” skip to Part II, Tax Computation on page 1 (or Schedule
C or D, if applicable). Complete Schedule A before beginning Schedule B. See instructions for recalculation of the column (c) amounts. Attach calculations.
(a)
Calendar year or
calendar quarter
(see instructions)

(b)
Internal Revenue office
where prior return was filed

(c)
Amount of applicable credit
(unified credit) against gift
tax for periods after
December 31, 1976

(d)
Amount of specific
exemption for prior
periods ending before
January 1, 1977

1

Totals for prior periods

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2

Amount, if any, by which total specific exemption, line 1, column (d), is more than $30,000

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3

Total amount of taxable gifts for prior periods. Add amount on line 1, column (e), and amount, if any, on line 2. Enter here and on page 1, Part II—Tax
Computation, line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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(If more space is needed, attach additional statements.)

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(e)
Amount of
taxable gifts

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2
3

Form 709 (2024)

Page 8

Form 709 (2024)

SCHEDULE C

Deceased Spousal Unused Exclusion (DSUE) Amount and Restored Exclusion

Provide the following information to determine the DSUE amount and applicable credit received from prior spouses. Complete Schedule A before beginning Schedule C.
(a)
Name of deceased spouse
(dates of death after December 31, 2010, only)

(b)
Date of death

(c)
Portability election made?

Yes

(d)
If “Yes,” DSUE
amount received
from spouse

(e)
DSUE amount applied by
donor to lifetime gifts (list
current
and prior gifts)

No

(f)
Date of gift(s) (enter as
mm/dd/yy for Part 1 and
as yyyy for Part 2)

Part 1—DSUE RECEIVED FROM LAST DECEASED SPOUSE
Part 2—DSUE RECEIVED FROM PREDECEASED SPOUSE(S)

TOTAL (for all DSUE amounts applied from column (e) for Part 1 and Part 2. Enter here and on line 2 below)

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1
2

Donor’s basic exclusion amount (see instructions)
Total from column (e), Parts 1 and 2 . . . .

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1
2

3
4
5

Restored Exclusion Amount (see instructions)
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Add lines 1, 2, and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Applicable credit on amount on line 4 (see Table for Computing Gift Tax in the instructions). Enter here and on line 7, Part II—Tax Computation .

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3
4
5

(If more space is needed, attach additional statements.)

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Form 709 (2024)

Page 9

Form 709 (2024)

SCHEDULE D

Computation of Generation-Skipping Transfer Tax

Note: Inter vivos direct skips that are completely excluded by the GST exemption must still be fully reported (including value and exemptions claimed) on Schedule D.
Part 1—Generation-Skipping Transfers. List items from Schedule A first, then items to be reported on Schedule D, including any transfers subject to an Estate Tax Inclusion Period (ETIP).
(a)
Item number (from
Schedule A, Part 2, col. (a),
then ETIP transfers, if any)

(b)
Description
(only for ETIP transfers)

(c)
Value (from Schedule A, Part 2,
col. (i), or close of ETIP
described in col. (b))

(d)
Nontaxable portion of transfer

(e)
Net transfer (subtract
col. (d) from col. (c))

1

Gifts made by spouse (for gift splitting only)

(If more space is needed, attach additional statements.)

Form 709 (2024)

Page 10

Form 709 (2024)

SCHEDULE D

Computation of Generation-Skipping Transfer Tax (continued)

Part 2—GST Exemption Reconciliation (Section 2631)
Complete items 1–8 below if any gifts are listed on Schedule A, Part 2 or 3 (direct skips, indirect skips, and other transfers in trust). See instructions.
1
Maximum allowable exemption (see instructions)
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1
2
3
4

2
3
4

Total exemption used for periods before filing this return . . . .
Exemption available for this return. Subtract line 2 from line 1 . . .
Exemption claimed on this return from Part 3, column (c), total below

5

Automatic allocation of exemption to transfers reported on Schedule A, Part 3. To opt out of the automatic allocation rules, you must attach an “Election Out”
statement. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6

Exemption allocated to transfers not shown on line 4 or line 5 above. You must attach a “Notice of Allocation.” See instructions

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5
6

7
8

Add lines 4, 5, and 6 . . . . . . . . . . . . . .
Exemption available for future transfers. Subtract line 7 from line 3

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8

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Part 3—Tax Computation
(a)
Item number
(from Schedule D,
Part 1)

(b)
Net transfer
(from Schedule D,
Part 1, col. (e))

(c)
GST exemption allocated

(d)
Divide col. (c)
by col. (b)

(e)
Inclusion ratio
(subtract col. (d)
from 1.000)

(f)
Applicable rate
(multiply col. (e)
by 40% (0.40))

(g)
Generation-skipping
transfer tax
(multiply col. (b)
by col. (f))

1

Gifts made by spouse (for gift splitting only)

Total exemption claimed. Enter here and on Part
2, line 4, above. May not exceed Part 2, line 3,
above . . . . . . . . . . . . .
(If more space is needed, attach additional statements.)

Total generation-skipping transfer tax. Enter here; on page 6, Schedule A, Part 4, line
10; and on page 1, Part II—Tax Computation, line 16 . . . . . . . . . . .
Form 709 (2024)