Irs Gift Tax Form 2024. Form 709 must be filed each year that you make a taxable gift and included with your regular tax return. If you exceed the annual gift tax limit, you may have to file a federal gift tax return (irs form 709).
What is the gift tax limit in 2024? If you give someone a gift that exceeds the annual gift tax exclusion amount ($17,000 per recipient for 2023, $18,000 for 2024), youโre required to report it using internal revenue.