Which documents are needed for the gift tax return?
May 29, 2024 | 50,00 EUR | answered by Lina Walter
Dear tax advisor,
My name is Isabel Breitwieser and I am currently preparing the gift tax return for a recent gift. However, I have some uncertainties regarding the necessary documents and hope that you can assist me.
The gift was recently made by my grandfather, who left me a substantial sum of money. The current value of this gift is 50,000 euros. Since this is my first experience with gift tax, I am unsure about which documents I need in order to correctly fill out the tax return.
My concerns lie particularly in the fear of overlooking important documents or information that may be relevant for the tax return. Therefore, it would be very helpful for me to know which specific documents I need to submit for the gift tax return.
Could you please provide me with a detailed list of the required documents so that I can ensure that I gather everything necessary? Are there any specific forms or receipts that I need to obtain in order to complete the gift tax return fully and correctly?
I thank you in advance for your help and look forward to your assistance in preparing my gift tax return.
Kind regards,
Isabel Breitwieser
Dear Mrs. Breitwieser,
Thank you for your inquiry regarding the gift tax declaration. It is understandable that you have uncertainties, especially if this is your first experience with gift tax. I will gladly provide you with a detailed list of the required documents so that you can be sure to gather everything necessary.
For the gift tax declaration, you will need the following documents:
1. Gift contract: The gift contract is the most important document that proves the gift itself. It should contain all relevant information such as the donor, the recipient, the gift amount, and the date of the gift.
2. Proof of the current value of the gift: Since the value of the gift is 50,000 euros, you will need to provide proof of this amount. This can be done, for example, in the form of a bank statement or a confirmation of the money transfer.
3. Identity documents: Identity documents such as ID card or passport are required from both you and the donor to clearly identify the individuals.
4. Possible evidence of tax exemption or tax reduction: If your gift is subject to certain conditions for tax exemption or reduction, you should provide relevant evidence.
5. Completed gift tax declaration form: You must fill out the official gift tax declaration form, which you can obtain from the tax office website or your tax office.
It is important that all documents are complete and correct to avoid problems or delays in processing your gift tax declaration. If you have any further questions or need assistance with filling out the declaration, I am happy to help.
I hope this list is helpful to you and wish you success in preparing your gift tax declaration.
Best regards,
Lina Walter
