Demystifying Form 709: How to Effectively Prepare and Review Gift Tax Returns

12:00 p.m. – 12:05 p.m.

Welcome and Introduction

12:05 p.m. – 12:55 p.m.

Demystifying Form 709: How to Effectively Prepare and Review Gift Tax Returns

Knowing how to properly prepare and review gift tax returns is an essential component of estate planning. This program will touch on some of the basics of gift tax returns as well as some of the more nuanced rules practitioners face when preparing and reviewing gift tax returns, including recent changes to Form 709, gift tax splitting versus GST tax splitting, GST allocations, adequate disclosure rules, reporting a gift subject to an ETIP and application of DSUE by a surviving spouse.

• Gift tax return basics and changes to Form 709

• Gift tax splitting versus GST tax splitting

• Lifetime allocations of GST exemption

• Adequate disclosure rules and reporting non-gift transactions (such as sales)

• Reporting a gift subject to an ETIP

• Application of DSUE by a surviving spouse

Speakers:

Erica Howard-Potter, Esq. and Brian M. Sweet, Esq.

Pryor Cashman, New York, NY

1.0 Credit in Areas of Professional Practice 

12:55 p.m. – 1:00 p.m.

Q&A