Form Instructions 709 for Stamford Connecticut 2024-2025

Form Instructions 709 for Stamford Connecticut: What You Should Know

Jul 30, 2025 — Gifts below the annual exclusion described above should be reported as part of the gross estate on a taxable estate basis and on a Form 709 estate or trust income tax return. Jul 30, 2025 — The exception for the deduction of capital cost allowance gifts in excess of 50% of the adjusted basis of the gifts should continue to apply. Sep 28, 2025 — The exception for the deduction of capital cost allowance gifts in excess of 50% of the adjusted basis of the gifts should continue to apply to the decedent's estate. Sep 28, 2025 — For property transferred as part of a charitable trust, estates are not required or permitted to file Form 704, Transfer of Property to a Charitable Endowment Trust, as an extension of time to be treated as a taxable estate. In general, the trustee must report the sale of the property to the IRS either (1) in the year it was transferred, (2) after the date the property is sold to the foundation, or (3) at the time of transfer. See Section 1342(c)(14) and Rev. Pro. 2002-62, 2002-17 I.R.B. 954, for guidance on determining when to report or distribute the sale. See section 1342 for exceptions to the rule, including how the gift tax is paid. Jul 31, 2025 — For gifts above the exclusion described above that were made in the taxable year, gifts to a qualifying individual in any taxable year must be reported on a Form 709 by the estate of the decedent, and included with that person's other gifts in a Form 709G by the decedent's spouse. If the estate is subject to a trust, a Form 709G should be prepared by the estate or trust. Sep 28, 2025 — For gifts below the exclusion described above made in the taxable year, gifts to a qualifying individual in any taxable year must be reported on a Form 709 by the estate of the decedent, and included with that person's other gifts in a Form 709G by the decedent's spouse. If the estate is subject to a trust, a Form 709G should be prepared by the estate or trust. Jul 30, 2025 — The exception for gifts to the decedent's children should not apply to any gifts that were made after his death, as long as the children were aged 18 or older when they received the gift.

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