Still, filling out Form 709 can get complicated. This article will walk you through the process step-by step. It’ll also help you determine if you need to fill out a Form 709 in the first place.

Even if you have made a taxable gift, Form 709 isn't as big of a burden as many think. That's because unless you've made a huge gift, you won't have to pay any actual gift tax.

However, although this election may keep you from having to pay tax, you'll still have to file a gift tax return in order to claim it. Other exclusions also keep you from having to file Form 709.