However, although this election may keep you from having to pay tax, you'll still have to file a gift tax return in order to claim it. Other exclusions also keep you from having to file Form 709.

Form 709 reports asset transfers subject to the federal gift tax or generation-skipping transfer taxes. “Ripcord technology was purpose-built to deliver on the needs of the Pilot IRS Program.

For tax years 2018 and 2019, you may give someone cash or property valued at up to $15,000 without needing to fill out Form 709. The exclusion applies per person.

On March 15, 2011, the Internal Revenue Service released a number of forms, including the gift and generation-skipping transfer tax return for 2010 – Form 709. This table organizes these forms ...