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Gift Tax Return INSTRUCTIONS Please use the information below to complete Form 709 for Jim and Sandy Perry. Blank forms can be found on the
Gift Tax Return INSTRUCTIONS Please use the information below to complete Form 709 for Jim and Sandy Perry. Blank forms can be found on the IRS website or in Doc Sharing. Please feel free to use a tax software package if you have one, but be aware that the instructor will not be able to answer specific questions about it. INFORMATION Jim Perry (Social Security number 456-56-5656) and Sandy Perry (Social Security number 123-45-6789) live at 4278 Red Bud Avenue, Bart, OK, 74003. During 2012, they made the following gifts to their three adult children. A tract of undeveloped land (basis of $40,000, fair market value of $90,000) in Davie County to Rod Perry on February 1. A condominium in Tulsa (basis of $70,000, fair market value of $100,000) to Paul Perry on April 10. Cash of $60,000 to Lisa Perry on July 1. Payment to the local university of $15,000 tuition on behalf of Lisa Perry on August 1
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