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Form 709 United States Gift and Generation Skipping Transfer Tax Return

Form 709 United States Gift and Generation Skipping Transfer Tax Return

Use a Form 709 United States Gift and Generation Skipping Transfer Tax Return template to make your document workflow more streamlined.

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How to fill out gift tax form 709

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Instructions and help about tax software for irs form 709

today i want to go over with you some of the high level basics of how the generation skipping transfer tax works so this is gst or gstt for short this is going to be a true introduction to it so if you're already familiar with this this video won't be super helpful for you because i'm not going to get into too complex of the scenario or details so this really is if you're just completely new to this concept and so what i want to start with is in order to get a grasp of the gst we need to understand first how the estate tax and gift taxes work because you need to grasp those concepts first even to even kind of wrap your brain around how the gst works so so i've got some examples here two slides and the second slide will go into the gst but first like i said i want to go over how the estate tax works and then how the the us gift tax works first so estate taxes is simply a tax imposed on your net worth on your death right so if you are wealthy enough in the us and you have a taxable esta

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