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February 4, 2025
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Gift tax form 709

  • February 4, 2025
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On schedule A, column d, I have donated stocks to a 501c3 using 3 different stocks. The column d is too small to enter the 5 different things they want-CUSPID, exchange, where incorporated, location, # shares. What is the solution to this?

also since I donated 3 different stocks, can I list as various securities or give each stock a separate line even though each line would be less than the exemption but as an aggregate, it is over the exemption?

    Best answer by M-MTax

    Back to my first post:

    I donated three different securities to the charity that in aggregate were over $18k would I enter each on a separate line on Schedule A? And how do I fit all the information the irs want in column d?


    Enter each security on a separate line. 

     

    You can also use more than one line for one security for the description. Alternatively, you can attach a separate sheet with the description.

    1 reply

    M-MTax
    February 4, 2025

    You do NOT need to file a 709 for gifts to recognized charities UNLESS you made noncharitable gifts. Did you do both?

     

    CS2768Author
    February 4, 2025

    Thanks

    My understanding is if it is over the exemption amount it is entered on schedule A and then comes off on page 6-schedule A computation of taxable gifts on line 7- charitable deduction and that is subtracted  from line page 6-total included amounts of gifts. Am I reading more into this than I need?

    M-MTax
    February 4, 2025

    @CS2768 

     

    Ref https://www.irs.gov/instructions/i709#en_US_2024_publink16784xd0e432

     

    Gifts to charities.

    If the only gifts you made during the year are deductible as gifts to charities, you do not need to file a return as long as you transferred your entire interest in the property to qualifying charities. 

     

    If you are required to file a return to report noncharitable gifts and you made gifts to charities, you must include all of your gifts to charities on the return.