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529 Superfund - Form 709

ptax255
Level 5

Hi, client superfunded child's 529 $75K in 2022. A gift tax return was filed in 2022. Should one be filed for 2023? Per instructions if no other gift was made, there is no need. But being it's for his child is it safe to not file one and assume no other or minimal gifts were made? I'm sure the client isn't tracking the 'other gifts'

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Taxtime3
Level 3

Yes, one should to be filed each year for the superfund.