709-US: Form 709, Schedule B, column C (FAQ)

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Question

Why is the amount in Form 709, Schedule B, column C not the same amount that was entered in the statement dialog?

Answer

When prior gifts total over $500,000, the instructions for Form 709, Schedule B require that the amounts in column C are redetermined with current-year tax rates. UltraTax/709 prints a statement and provides a non-submittable worksheet with a detailed calculation of the redetermined amounts.

Related topic: 709 frequently asked questions

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