For the latest information about developments related to Form 709 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form709.
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see below.
|For Gifts Made||Use Revision of
Form 709 Dated
|– – – – –||January 1, 1982||November 1981|
|December 31, 1981||January 1, 1987||January 1987|
|December 31, 1986||January 1, 1989||December 1988|
|December 31, 1988||January 1, 1990||December 1989|
|December 31, 1989||October 9, 1990||October 1990|
|October 8, 1990||January 1, 1992||November 1991|
|December 31, 1992||January 1, 1998||December 1996|
|December 31, 1997||– – – – –||*|
|* Use the corresponding annual form.|
The annual gift exclusion for 2012 remains $13,000. See Annual Exclusion, later.
For gifts made to spouses who are not U.S. citizens, the annual exclusion has increased to $139,000. See Nonresident Aliens, later.
The top rate for gifts and generation-
skipping transfers remains 35%. See Table for Computing Gift Tax, later.
The basic credit amount for 2012 is $1,772,800. See Table of Basic Exclusion and Credit Amounts, later.
The applicable exclusion amount consists of the basic exclusion amount ($5,120,000 in 2012) and, in the case of a surviving spouse, any unused exclusion amount of the last deceased spouse (who died after December 31, 2010). The executor of the predeceased spouse's estate must have elected on a timely and complete Form 706 to allow the donor to use the predeceased spouse's unused exclusion amount.
The IRS is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in instructions on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
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