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Preparing a Gift Tax Return Using Form 709 (FRM7)

Customer Rating
Field of Study
taxes
Level
Basic
Credits
2
Qualifies For
IRS CPE


Price:  $19.99

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.

Additional information

Credits

2
Format

Self-Study Download
Company Code

Self Study
Yellow Book Approved

0
CFP Approved

0
IRS Approved

1
CTEC Approved

0
Field of Study Credits

Taxes (2)
Field of Study Department

Taxes
Course Version

2022-01
CPE Approved

1

Pre-requistes:

None

Knowledge Level:

Basic

Major Topics:

  • Situations in which consenting spouses are not required to file Form 709
  • The inclusion of up-to-date revised forms and references
  • Calculation of additional credit for decedent spousal unused exemption (DSUE)
  • Gifts excluded from gift tax reporting
  • Form 709, gift tax reporting, and the effect of the lifetime exclusion
  • The annual exclusion – what qualifies and how is it calculated
  • Calculation of unified credit and prior year credit recalculation
  • Proper gift tax reporting of front-end loaded §529 qualified tuition plans
  • Present interest versus future interest
  • Adequate disclosure requirements and the statute of limitations

Designed For:

CPAs involved in the preparation of individual, gift, and information returns
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