When to file a gift tax return

Infographic: When are you required to file a gift tax return?

Gift tax infographic full - When to file a gift tax return

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Be generous to a fault (but don't forget to file)Whether you've stepped in to help a struggling family or transferred funds to hairs to reduce the size of your estate, you may need to file a federal gift tax return. In general, you should file IRS Form 709 if you:
  • Make gifts to or for someone during the year that exceed the annual gift exclusion of $15,000 (for 2020 and 2021),
  • Make gifts to a noncitizen spouse that exceed $157,000 in 2020 or $159,000 in 2021,
  • Make gifts of future interests, even if they're less than the annual exclusion amount, or
  • Split gifts with your spouse, regardless of amount.
Being required to file doesn't necessarily mean you owe gift tax. Contact us for help.