IRS Form 709 (Gift Tax Return) Publicly Traded Stock | Step-by-Step Examples

More Form 709 Tutorials:
Simple Example for Cash Gifts 2023: • IRS Form 709 (Gift Tax...
Real Estate Gifts: • IRS Form 709 (Gift Tax...
Section 529 Plan Contributions: • IRS Form 709 (Gift Tax...
Charitable Contributions: • IRS Form 709 (Gift Tax...
Split Gifts Married Couples: • IRS Form 709 (Gift Tax...
Prior Period Gift Reconciliation: • IRS Form 709 (Gift Tax...
The IRS Form 709 is filed by U.S. individuals to report taxable gifts made during the tax year.
In this example, we look at a donor who gifted cash and publicly traded stocks to her daughter. The publicly traded stocks require special disclosures on the Form 709.
The donor must disclose:
1. Name of the publicly traded stock
2. CUSIP number
3. Number of shares transferred
4. Donors adjusted cost basis in the property
5. Fair market value (FMV) of the shares on the transfer date
The per-share FMV is determined using the mean of the high and low stock prices on the day of transfer.
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DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
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[@shosansah4629]

Thank you so much for these videos! Very helpful.

[@jamesl969]

enjoyed the video. what if there's a small remaining mortgage balance, e.g. $25,000? would that be deducted from the $285,000, with an attached exhibit of the current mortgage statement.

[@richardmills9359]

This is a wonderfully clear and helpful video. Thanks so much for posting this -- you have saved me what likely would have been additional HOURS of figuring out this form!

[@kevinmeeks6536]

Awesome video! A demonstration of this form when gifts to an irrevocable non-grantor trust are made would be great!