IRS Form 709
IRS Form 709 is the Gift Tax Return.
It is used to pay a Gift Tax on any gifts made during calendar year if they exceed $16,000 per recipient.
Form 709 requires detailed information about the gifts and transfers, including the fair market value of the gift, the date of the gift, and the relationship between the donor and the recipient.
It must be filed with the IRS no later than April 15th of the year following the year in which the gift was made.
If the donor is married and splitting gifts with their spouse, they may file a joint gift tax return using Form 709.
The process of managing a deceased person's taxes can be complicated, so it's best to speak with Certified Public Accountant to help navigate the process.