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Hi Sjrcpa,
Thanks for your help but just to confirm, when I reviewed the 709 instruction I did not see where it state we must attach the valuation/ appraisal report , this what i found:
Adequate Disclosure
To begin the running of the statute of limitations for a gift, the gift must be adequately disclosed on Form 709 (or an attached statement) filed for the year of the gift..
In general, a gift will be considered adequately disclosed if the return or statement includes the following.
A full and complete Form 709.
A description of the transferred property and any consideration received by the donor.
The identity of, and relationship between, the donor and each donee.
If the property is transferred in trust, the trust's employer identification number (EIN) and a brief description of the terms of the trust (or a copy of the trust instrument in lieu of the description).
Either a qualified appraisal or a detailed description of the method used to determine the fair market value of the gift.
