Form 709 gift split - Us Citizen, married couple, annual exclusion amount - gifted to 2 donees

Forum|Forum|1 year ago
April 11, 2025
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Hi,

My husband and I donated $200,000 for my son and his future wife for a down payment in 2024.

I believe we nee to file two separate 709 forms.

So, in each 709 form SCH A part 4 - line 1 the value of the gift is $100,000 ? (half for me/ half my husband?)

If so, the annual exclusion on each 709 form is $ 36,000 ? (18,000 for my son $ 18,000 his wife) ?

So, this way we maximize the exclusions?

Or should do differently?

Apreciate the HELP!!!

DaveF1006

Yes, you are correct. Since you and your husband are electing to split the gift, each of you would report $100,000 on your respective Form 709.

Regarding the annual exclusion, the IRS allows $18,000 per recipient in 2024. Since your son and his future wife are separate recipients, you and your husband can each apply $18,000 per person, totalling $36,000 per donor. This means:

You exclude $36,000 from your $100,000 gift.
Your husband excludes $36,000 from his $100,000 gift.
The remaining $64,000 per donor ($128,000 total) would count toward your lifetime gift tax exemption.

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Hi Palms

Employee

You each file a 709.

You each gifted $100,000 (total) to your son and his future wife ($50,000 each) and have a total annual exclusion of $36,000 for 2024 ($18,000 for your son and $18,000 for your future daughter-in-law).

On Schedule A, you will list each one (son and future daughter-in-law) on a separate line ($50,000 each).