Form 709 - Help with entry

[BulldogTom]

I am having a brain fart.   Can I get some help with the entry in ATX on a gift tax return?

Client (H&W) gave 600K to each of their children who are married.   The list is 300K to each child and 300K to each son in law.  Total gifts by H&W is 1.2 million.   

I know I need to make 2 returns because it is community property in a community property state.   No issue there.  Each spouse will have 600K in gifts on their return.

On the H return, do I show the full 300K to each child and then 50% split, or 150K to each with no split?   

Thanks

Tom
Modesto, CA

[jklcpa]

1 hour ago, BulldogTom said:

150K to each with no split

^^ This way. Because it's community property each owns 50%, there's no need to elect gift splitting.  Husband and wife will each file a return, and each return will report 4 gifts of 150K with no gift splitting.

 

[BulldogTom]

Thank you Judy. 

Tom
Modesto, CA