Which, if any, of the following is a correct statement regarding the filing of a gift tax return (Form 709) ?
A) A donor must file a Form 709 in the same year in which the gift was made.
B) The due date of a Form 709 is the same as the due date of the donor's Form 1040.
C) A Form 709 may have to be filed even though the value of the gift was less than the amount of the annual exclusion.
D) Melody gives her husband a new Mercedes convertible for his birthday. Melody must file a Form 709 to report the gift even though no gift tax results.
E) None of the above.
Correct Answer:
Verified
Q81: At the time of his death on
Q100: At the time of her death, Megan
Q103: What is the justification for the terminable
Q114: Stacey inherits unimproved land (fair market value
Q115: Mark dies on March 6, 2016. Which,
Q116: In 1985, Drew creates a trust with
Q117: In 2005, Mandy and Hal (mother and
Q118: Matt and Patricia are husband and wife
Q121: At the time of her death, Audrey
Q124: Cole purchases land for $500,000 and transfers
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents