What is Form 709? Tax Filing for Superfunded 529 Plans – Ask The Hammer: In this episode of “Ask the Hammer,” Jeffrey Levine from Buckingham Strategic Wealth addressed a complex topic regarding the filing requirements for Form 709 when superfunding a 529 plan. Levine expertly explained that when individuals superfund a 529 plan—contributing five years’ worth of gifts in one year—they are potentially required to file Form 709 just once, in the year of the contribution, as long as no additional gifts that exceed the annual exclusion are made in the following years. Catch all of the Ask The Hammer episodes at this link: https://www.finstream.tv/videos/ask-the-hammer/
Categories: Ask The Hammer