Estate & Gift Tax Return Preparation
Federal estate and gift tax return preparation for applicable Form 706 and Form 709 engagements, with scope based on the transfer, filing requirement and supporting records.
Estate-tax and gift-tax filing requirements are fact-specific and should be confirmed before preparation begins.
FEDERAL TRANSFER TAX RETURNS
ESTATE TRANSFER
Form 706
Used by the executor of an applicable estate for federal estate-tax and certain generation-skipping transfer tax reporting.
LIFETIME TRANSFER
Form 709
Used by individuals to report certain lifetime gifts and certain generation-skipping transfers.
Not every estate or gift requires one of these returns.
Form 706 vs. Form 709
Both forms relate to federal transfer taxes, but they address different events and filing circumstances.
Estate Tax Return — Form 706
Form 706 is used by the executor of an applicable decedent's estate to determine federal estate tax and certain generation-skipping transfer tax obligations.
Possible areas reviewed:
- • Decedent and estate information
- • Estate assets and property interests
- • Applicable lifetime taxable gifts
- • Debts and deductions
- • Beneficiary or spousal information where relevant
- • Applicable elections
- • GST-related information
- • Supporting schedules and valuation records
Important clarification: Not every estate is required to file Form 706. Filing depends on the decedent's status, gross estate value, adjusted taxable gifts, and applicable tax-year rules. Form 706 may also be filed specifically to make an estate-tax portability election—allowing a surviving spouse to elect to transfer and utilize the deceased spouse's unused exclusion (DSUE) for future transfers, even when the estate is below the mandatory filing threshold.
Gift Tax Return — Form 709
Form 709 is used by individuals to report certain gifts and certain generation-skipping transfers and may also be used for applicable GST exemption allocations.
Possible information:
- • Donor information
- • Donee information
- • Description of transferred property
- • Date of transfer
- • Value and supporting valuation information
- • Ownership interest transferred
- • Prior gift-tax information
- • GST-related information where relevant
- • Applicable elections
Filing Language: Not every gift requires Form 709, and exceeding the annual exclusion is not the only possible filing trigger. Filing depends on the nature, value and structure of the transfer and any applicable elections.
Filing requirements depend on the transfer
FORM 706 MAY REQUIRE REVIEW WHEN:
- •An estate may meet the applicable federal filing requirement
- •Prior taxable gifts affect the filing analysis
- •A federal estate-tax election may be relevant
- •GST matters may apply
- •Professional advisers have identified a Form 706 requirement
FORM 709 MAY REQUIRE REVIEW WHEN:
- •Certain reportable lifetime gifts were made
- •Future interests are involved
- •Gift splitting is being considered
- •GST reporting or allocation may apply
- •A prior adviser has identified a gift-tax filing requirement
Nonresident and Noncitizen Transfers
Estate and gift tax rules can differ for individuals who are nonresidents and not US citizens. Depending on the facts, separate forms such as Form 706-NA or Form 709-NA may apply. Those situations should be reviewed separately before scope is confirmed.
Form 706 is not Form 1041
Form 706 addresses federal estate and transfer-tax matters arising from the decedent's estate. Form 1041 is an income-tax return used by qualifying estates and trusts to report income earned during administration.
An estate may encounter both types of filing obligations, but the forms serve different tax purposes.
Explore Form 1041 PreparationTax return preparation and asset valuation are different services
Estate and gift tax reporting can depend heavily on asset values. Where a professional appraisal or specialist valuation is required, the return may rely on valuation documentation provided by an appropriately qualified professional.
Unless separately confirmed in the engagement, An Noor Financial Advisors' scope is tax-return preparation rather than independent asset appraisal.
Information we may review
The exact information request depends on the return, transfer, estate and applicable schedules.
FORM 706
- •Decedent and executor information
- •Estate identification records
- •Real estate and property records
- •Financial accounts and investments
- •Business interests
- •Life-insurance information where relevant
- •Debts and administration-related expenses
- •Prior taxable gifts
- •Beneficiary/spousal information where relevant
- •Existing professional valuations
- •Prior estate or gift-tax filings where relevant
FORM 709
- •Donor information
- •Donee information
- •Description of transferred property
- •Date of transfer
- •Ownership interest transferred
- •Available valuation support
- •Prior gift-tax returns
- •Prior taxable gifts
- •GST information where relevant
- •Election-related information where applicable
Why work with An Noor for estate and gift tax return preparation?
Scope confirmed first
We first identify whether the inquiry concerns an estate, lifetime gift or related transfer-tax filing before requesting the complete record set.
Documentation-led preparation
Return preparation is based on the estate, transfer and valuation records relevant to the agreed filing scope.
Clear professional boundaries
Tax-return preparation is kept distinct from probate, estate planning, legal advice and independent appraisal work.
Secure onboarding
Sensitive identity, beneficiary and asset records are not collected through the public inquiry form.
How the engagement works
Understand the filing situation
We identify whether the inquiry concerns Form 706, Form 709 or another transfer-tax circumstance requiring separate review.
Confirm scope and information requirements
We confirm the intended return and provide a relevant document request.
Prepare and review
We prepare the applicable return and schedules from the information and supporting records provided within the agreed scope.
Authorize and complete the agreed filing process
The return moves through the agreed review, signature and filing process.
What return preparation does not automatically include
- • Probate or court representation
- • Estate planning
- • Trust or legal-document drafting
- • Legal opinions
- • Independent asset appraisals
- • Wealth or investment management
- • IRS examination representation
Separate professional services may be required depending on the estate or transfer.
Secure Information Handling
Estate and gift-tax records can contain Social Security numbers, tax identification numbers, beneficiary information, ownership records, asset details and valuation documents.
Do not submit sensitive estate or gift-tax documents through the public website inquiry form. Secure onboarding instructions are provided after the engagement scope is confirmed.
Frequently Asked Questions
Do you prepare Form 706?
Yes. Form 706 is prepared for applicable estates to determine federal estate tax and certain generation-skipping transfer tax obligations within our confirmed engagement scope.
Do you prepare Form 709?
Yes. We prepare Form 709 for individuals to report certain lifetime gifts and generation-skipping transfers.
What is the difference between Form 706 and Form 709?
Form 706 addresses federal estate tax and is generally filed by an executor. Form 709 is used by an individual to report lifetime gifts.
Does every estate need to file Form 706?
No. The filing requirement depends on the decedent's circumstances, applicable estate and adjusted taxable-gift amounts, tax-year rules and any elections being made. Form 706 may also be relevant in certain situations where a portability election is being considered.
Does every gift require Form 709?
No. Filing depends on the nature, value and structure of the transfer and any applicable elections. The annual exclusion is only one part of the analysis; certain future-interest gifts, gift-splitting elections and other reportable transfers can also create filing requirements.
Can Form 706 be relevant even if an estate is below the normal filing threshold?
Yes. An executor can file Form 706 to make a portability election—transferring the deceased spousal unused exclusion (DSUE) to the surviving spouse—even when the estate is below the mandatory filing threshold.
What is the difference between Form 706 and Form 1041?
Form 706 deals with federal estate and transfer-tax matters. Form 1041 is an income-tax return used by qualifying estates and trusts to report income earned during administration. An estate may have obligations involving both forms.
Do you provide asset valuations or appraisals?
No. Tax return preparation and asset valuation are different services. Where a professional appraisal is required, the return relies on documentation provided by an appropriately qualified professional.
How should sensitive estate or gift-tax records be submitted?
Do not submit sensitive estate or gift-tax documents through the public website inquiry form. Secure onboarding instructions are provided after the engagement scope is confirmed.
Need help with Form 706 or Form 709?
Tell us whether your inquiry concerns an estate or a lifetime transfer. We will review the filing scope and explain the information needed to begin.