Irs Gift Tax Form 709 2024. If you give gifts of cash, property, or other assets to someone during any given tax year, you’re required to file form 709 to report the gift. The tax applies whether or not.

On a gift tax return, you report the fair market value of the gift on the date of the. If you’ve made a taxable gift, you’ll need to file irs form 709 for that year, unless your gift falls under an irs gift exemption.