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- Form 709, Part 4 Taxable Gift Reconciliation
Form 709, Part 4 Taxable Gift Reconciliation
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Roadster
Level 1
02-17-2021
12:51 PM
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Ref: Form 709 for 2020, Page 3, Part 4 - Taxable Gift Reconciliation, Line 1
On a recent example of a Lacerte Form 709 with SPLIT GIFTS, I notice that Line 1 on page 3 includes the spouse's gifting.
On page 11 of the instructions for Form 709 for 2020 it states:
Split Gifts—Gifts Made by Spouse Part 4—Taxable Gift Reconciliation
"Enter ONLY GIFTS OF THE DONER. If gift splitting has been elected, ENTER ONLY THE VALUE OF THE GIFT THAT IS ATTRIBUTABLE TO THE SPOUSE THAT IS FILING THE RETURN".
Am I understanding correctly that Line 1 should not include gifts by the spouse?
Does the current Lacerte application still add the spouse's gifts to Line 1 for split gifts?
Can anyone document a source that calls for the spouse's gifts to be included on Line 1?
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1 Comment 1
Alva124
Level 2
06-08-2021
04:32 PM
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I agree with you and stumbled upon the same thing.
The only solution I found is override it on screen 12.1??
