IRS Form 709 (Gift Tax Return) Publicly Traded Stock | Step-by-Step Examples

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The IRS Form 709 is filed by U.S. individuals to report taxable gifts made during the tax year.
In this example, we look at a donor who gifted cash and publicly traded stocks to her daughter. The publicly traded stocks require special disclosures on the Form 709.
The donor must disclose:
1. Name of the publicly traded stock
2. CUSIP number
3. Number of shares transferred
4. Donors adjusted cost basis in the property
5. Fair market value (FMV) of the shares on the transfer date
The per-share FMV is determined using the mean of the high and low stock prices on the day of transfer.
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