709-US: Date of gift entered as "various" (FAQ)

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Question

Can a gift be entered with a date of "various?"

Answer

UltraTaxCS/709 does not accept "various" as the date of a gift because the Internal Revenue Service requires that each gift be entered with a specific date. The date is used to establish the value of the gift and to begin the statute of limitations. If a gift is given on more than one date, the gift must be divided into separate entries.

Related topic: 709 frequently asked questions

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