Help with gift tax form 709

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sj1961
Posts: 51
Joined: Mon Jan 22, 2018 7:01 pm

Help with gift tax form 709

Post by sj1961 » Mon Oct 15, 2018 3:26 pm

I filed an extension for what I hoped would be a simple form
We filed a joint tax return
Situation is my spouse and I both gifted through separately owned brokerage accounts slightly less than 14k each to our son. The problem arises because I also through our joint account put
3k into his 529. Therefore I filed a gift tax return



I am the only one filing a gift tax return because I wrote the check for the $3k so am I assuming my gift to my son is almost $17k and over the exclusion. I am not gift splitting. I don’t think it necessary because we both made gifts from individually owned accounts except for the $3k. Since I signed the check I think the IRS accepts it as from me

My questions are
1. Does the logic of only filing one gift tax return seems correct?
2. Does the logic of not gift tax splitting also seem accurate? The whole concept seems unnecessary if you write separate checks but I feel as though I am missing something
3. Following with the above logic since one also has to declare donations to charities on the gift tax form I only included gifts I made directly. The list of these gifts are a subset of what are listed on our 1040 schedule A since some of the donations were made by my spouse- although it isn’t identifiable that way on 1040 schedule a. Does this partial list of charitable deductions on 709 seem appropriate? None of which change my tax liability or lifetime exclusion

Thanks in advance

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