To help us accurately prepare your gift tax return, please provide the following (please note that this is a separate engagement than your personal income tax returns):

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1. Donee (Recipient) Information

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For each person or entity that received a gift:

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• Full name

• Address

• Relationship to you

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2. Details of Gifts Made

 

For each gift:

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• Date of gift

• Description of the gifted asset (cash, securities, real estate, business interests, etc.)

• Fair market value (FMV) on the date of the gift

• Cost basis (what you originally paid), if applicable

• Documentation supporting value (appraisals, statements, etc.)

 

3. Gifts of Cash

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• Amount given

• Date(s) of transfer

• Method of transfer (check, wire, etc.)

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4. Gifts of Securities or Investments

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• Name of security

• Number of shares/units

• Date of transfer

• FMV on transfer date

• Original purchase date and cost basis

 

5. Real Estate Gifts

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• Property address

• Date of transfer

• Appraised value at date of gift

• Copy of appraisal report

• Original purchase price and date

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6. Other Gifts - Contact us for what is needed

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7.  If you are married did the funds gifted come from a joint account or were jointly owned?   If not, please let us know which spouse made the gift with separate funds.  

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8. Prior Year Gift Tax Returns

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• Copies of any previously filed Form 709

• Summary of prior taxable gifts (if known)

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*** Note: Medical and Educational Payments (If paid directly to provider and excluded from gift tax)