Gift & Estate
Gift Tax Return (Form 709) Preparation
Gave a large gift to a child, helped with a down payment, or transferred property or business interests? You may need to file Form 709 — even when no tax is due. We handle the reporting accurately so your lifetime exemption is tracked correctly.
Do you need to file?
Filing is often required even when no tax is owed
The IRS allows each person to give up to an annual exclusion amount per recipient each year without filing. Gifts above that amount — and certain other gifts, like gifts of future interests or when spouses elect to split gifts — generally require a Form 709.
Most filers never pay gift tax, because larger gifts count against a lifetime exemption instead. But that exemption is only tracked correctly if the returns are filed — which matters for your estate later.
- Form 709 preparationAccurate reporting of cash, securities, real estate and business interests.
- Valuation coordinationWorking with appraisers when gifted assets aren’t publicly traded.
- Gift splitting for married couplesElecting and documenting split gifts properly.
- Late or missed filingsCatching up prior-year gifts that should have been reported.
Common situations
Gifts that often require Form 709
- Large cash gifts to children or grandchildren
- Help with a home down payment
- Transferring real estate to family
- Gifting shares of a family business or LLC
- Funding certain trusts
- Large contributions to a 529 plan
- Forgiving a family loan
- Adding a family member to a property title
Common Questions
Gift Tax FAQs
Who files the gift tax return — the giver or the receiver?
The person who gives the gift files Form 709. The recipient generally does not report a gift as income.
When is Form 709 due?
It’s generally due by the same deadline as your individual income tax return for the year of the gift, and an extension of your income tax return generally extends it too.
I forgot to file for a past gift. What now?
It’s usually fixable. We can prepare the late return and make sure your lifetime exemption is reported correctly going forward.
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