Gift Tax, GST, and Form 709

Free IRS Enrolled Agent SEE Part 1 (Individuals) lesson in Specialized Returns for Individuals. 18 min read, ~2,629 words.

2025 annual exclusion: \$19,000 per donee per donor, present interests only; the gift-splitting election doubles it to \$38,000 for married couples. Gift-splitting (§2513): requires both spouses' consent and applies to all gifts made that year; each spouse files a separate Form 709. 2025 lifetime exemption: \$13.99M per donor (credit equivalent...