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Video instructions and help with filling out and completing Fill 1041 Schedule Instructions

Instructions and Help about Fill 1041 Schedule Instructions

Come back to another video for harbor financial online.com today we're going to be talking about the gift tax return form 7:09 and if you're required to file this return so let's go through the video slides here I'm and explain it to you guys in a way that makes sense and see if you have to file this form the annual gift tax exclusion allows you to give money to people without having to pay tax on that gift if you qualify for the exclusion you can give up to $13,000 to a person and not have to pay tax that you must file form 7:09 if you give a gift more than 13-thousand to someone now as I go through this video I want to see here our website harbor financial online.com allows you to prepare your taxes online and we pra bunch of information on that site for free that you can go through all the different credits deductions every area of tax it's going to allow you to save some money now a husband and wife cannot file a joint gift tax return together what I mean by this is each one of you have to fill out this form seven zero and nine you can't just have one form with both of your names I allow like a lot of the other tax forms get attached to your tax return you must file different tax return to split gifts with your spouse what I mean by this if you guys if you're married and you're splitting a gift you're putting in money he's putting in money you're splitting that gift you still each have to file the gift tax return if the money is coming from both of you so it's better to have the...

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