Schedule B. Gifts From Prior Periods

If you did not file gift tax returns for previous periods, check the “No” box on line 22a of Part 1—General Information on page 1. If you filed gift tax returns for previous periods, check the “Yes” box on line 22a and complete Schedule B by listing the years or quarters in chronological order as described below. If you need more space, attach a separate sheet using the same format as Schedule B.

Caution: Complete Schedule A before beginning Schedule B.

Column (a) If you filed returns for gifts made before 1971 or after 1981, show the calendar years in column (a). If you filed returns for gifts made after 1970 and before 1982, show the calendar quarters.

Column (b) In column (b), identify the IRS office where you filed the returns. If you have changed your name, be sure to list any other names under which the returns were filed. If there was any other variation in the names under which you filed, such as the use of full given names instead of initials, please explain.

Tip: You will not use columns (c) and (d), outlined below, unless you are listing gifts from prior periods that were reported by you under a treaty obligation in which you received and used an applicable credit amount, and you are filing this return under a similar treaty obligation. See Gift tax treaties , earlier.

Column (c) To determine the amount of applicable credit (formerly unified credit) used for gifts made after 1976, use the Worksheet for Schedule B, Column (c) (Credit Allowable for Prior Periods) in the Instructions for Form 709, unless your prior gifts total $500,000 or less.

Prior gifts totaling $500,000 or less. In column (c), enter the amount of applicable credit actually applied in the prior period.

Prior gifts totaling over $500,000. See Redetermining the Applicable Credit, later.

Column (d) In column (d), enter the amount of specific exemption claimed for gifts made in periods ending before 1977.

Column (e) In column (e), show the correct amount (the amount finally determined) of the taxable gifts for each earlier period.

See Regulations section 25.2504-2 for rules regarding the final determination of the value of a gift.

Note: Amounts shown in column (e) should reflect all taxable gifts, even if no gift tax was paid due to the applicable credit (formerly unified credit).

Redetermining the Applicable Credit If under a treaty obligation you have an applicable credit amount (unified credit) or received a deceased spousal unused exclusion (DSUE), and need to redetermine your applicable credit amount, see Redetermining the Applicable Credit under Schedule B. Gifts From Prior Periods in the instructions for Form 709.

Table of Basic Exclusion and Credit Amounts See the Instructions for Form 709.