Is a Form 709 to be submitted when I give a cash gift of the allowable amount ($13,000) or only if the gift exceeds that amount?
Asked on 1/26/11, 11:34 am
1 Answer from Attorneys
Thomas Shigo
The Shigo Law Firm, P.A.
You will have to file a Form 709 if a cash gift to directly to any single person exceeds $13,000.00.
The consult the instructions for form 709 at www.irs.gov for more specific details on who does/does not need to file a 709.
Answered on 1/27/11, 2:03 pm
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