Complex Gift Reporting on Form 709: GRATs, Business Interests, Crummey Trusts, CLTs and CRTs, and QPRTs
Recording of a 110-minute CPE webinar with Q&A
This course will guide practitioners through reporting of more complicated gifts, including examples of how gratuitous transfers made under common estate planning strategies should be reported and disclosed on Form 709. Our expert panel will discuss in detail the reporting of gifting to GRATs, Crummey trusts, charitable trusts, and QPRTs, gifts of business interests, GST implications of these gifts, and other details regarding asset transfers.
- Gifts to Crummey trusts
- Gifts of privately held business interests
- Transfers to GRATs
- Gifts to QPRTs
- Gifts to charitable trusts (CRTs and CLTs)
- GST exemption allocations for trust gifting
- Other reporting issues
- Adequate disclosure
The panel will review these and other critical issues:
- Where and how to report transfers to Crummey trusts, GRATs, QPRTs, CLTs and CRTs on Form 709?
- What are the reporting considerations for the transfer of a business interest?
- How is a GST election disclosed on a gift tax return and best practices for making disclosures?
- What are best practices to ensure adequate disclosure compliance?
Michael Boncher, CPA
Senior Manager, Tax
Cohen & Company
Mr. Boncher is a member of the firm’s High Net Worth specialty practice. He has 14 years of experience in public... | Read More
Mr. Boncher is a member of the firm’s High Net Worth specialty practice. He has 14 years of experience in public accounting focused on tax planning and compliance in the wholesale, distribution and real estate industries. Mr. Boncher enjoys the complexities of assisting business owners with not only their business tax needs but also their individual and wealth transfer needs, focusing on gift and estate taxation planning techniques.Close
Scott Swain, CPA, CFA, CFP®, MT
Cohen & Company
Mr. Swain has more than 25 years of experience working in the accounting and financial services industries, including... | Read More
Mr. Swain has more than 25 years of experience working in the accounting and financial services industries, including over 15 years focused on planning and tax compliance for high-net-worth individuals. He specializes in income and estate tax planning for individuals and has a tremendous amount of experience working with complex trusts, family partnerships and other entities from an estate planning perspective. Mr. Swain also has significant experience in assisting clients with their investment assets, including global asset allocation construction, investment selection and performance monitoring.Close
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