Filing Form 709 for year 2024

[dude7707]

Facts:  MFJ taxpayers died in 2024 as follows:

  H - 4.11.24

  S - 8.16.24

Cash Gifts made to Son as follows:

  $13k in April 24.

   $7k in Aug 24

Q1:  Since $13k was made jointly when both were alive and under annual $18k - No gift tax required?

Q2:  Surviving Spouse gift again under $18k, therefore no gift tax required?

In my understanding given the limited information above therefore no Form 709 for year 2024 for either taxpayer, correct?

[IRonMaN · Accepted solution]

They each gave 6500 in April.  She gave another 7000 in August.  Total gifting from her was 13,500 - below the gifting exclusion - no gift tax return.

[TaxGuyBill]

---

@dude7707 wrote:

Cash Gifts

Q1:  Since $13k was made jointly

---

I am not fluent with Gift Tax returns, but ...

Was this literal "cash" or was it a check?  If it was a check, who signed the check?

If spouse was the only one who signed the check, I would think it would be considered a gift 100% from her, UNLESS they file a 709 to elect the the gift-split.

But as I said, I am not an expert so maybe I'm wrong.

[dude7707]

Thanks Steve, that definitely makes sense since as we know they each must file separate 709's.

So, neither one meets the annual $18k for 2024.

Thank you for your quick response.

[dude7707]

Was this literal "cash" or was it a check?  If it was a check, who signed the check?

Actually, it was an electronic transfer from their joint bank account, so no manual check was issued for ANY of the amounts.

Thanks for your time, TaxGuyBill.

If spouse was the only one who signed the check, I would think it would be considered a gift 100% from her, UNLESS they file a 709 to elect the the gift-split.