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Form 4808: Computation of Credit for Gift Tax
Department of the Treasury - Internal Revenue Service Form 4808 is a Computation of Credit for Gift Tax used to calculate tax credits related to gifts. No credit is allowed for gifts made after 12/31/76.
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IRS Form 4808 - Computation of Credit for Gift Tax
Department of the Treasury - Internal Revenue Service Form 4808 is a Computation of Credit for Gift Tax used to calculate tax credits related to gifts. No credit is allowed for gifts made after 12/31/76.
Risk Radar
Scan points- 1Ensure you calculate Line 12 correctly: (Line 6 $\times$ Line 9) in Column A plus column B.
- 2Failing to use Column B when reporting portions of donor's gift by spouse (split gifts).
- 3Incorrectly determining Line 14: choosing the wrong calculation based on whether Line 1 $\le$ Line 13 or vice versa.
- 4Forgetting to calculate a separate computation for each taxable year if multiple years are included.
- 5Entering the wrong value into Line 30 (Limitation of credit), which must be the smaller of Line 12 or Line 29.
Plain English
This form calculates how much gift tax credit an individual or estate receives based on the gifts they have given away. It determines the total allowable credit by comparing both lifetime gift taxes and potential estate tax benefits. The final result shows the maximum amount of gift tax that can be credited against other liabilities.
Submission Date
- Filing date: 2018-07-18 23:00:06
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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Glossary Terms
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What this form is for
- Use this form when computing the credit for gift tax related to a gift or gifts, provided no credit was allowed for gifts made after 12/31/76.
- Do not use Form 4808 when determining the total taxable gifts (line 7), as that information is found on Schedule A of Form 709.
- Check Schedule A (Form 709) instead when calculating specific deductions like the annual exclusion or marital deduction applicable to a gift.
Form selector
Use this form or another form?
Gifts spanning multiple taxable years
A separate computation of both limitations must be made for each taxable year.
✓ Confirm the required calculation on Form 4808, line 30.
Calculating tentative tax and applicable credit amount
The source references Line 28 being derived from Form 706 (8-2013 revision).
✓ Verify that Line 12 of Form 706 matches the input for Form 4808, line 28.
Determining gross estate value and deductions
Lines 21 through 25 are based on values found or calculated in Form 706.
✓ Ensure Line 21 (Gross estate) is correctly transferred to Form 4808.
Deadline or filing window
The source does not list a specific filing deadline date. However, if the gifts reported cover more than one full taxable year, the filer must make a separate computation of both limitations for each respective taxable year.
Checklist
What you need before filling it out
First Limitation
Line 6 (Amount of gift) and Line 9 (Total of lines 7 and 8) multiplied by Line 10 (Total gift tax paid) · Form 4808, page 1
Second Limitation
Line 20 (Value of the gift) multiplied by Line 27 (Total of line 25 and 26) multiplied by Line 28 (Tentative tax...) · Form 4808, page 1
Marital Deduction Calculation
Lines 15 (Estate tax marital deduction), Line 16 (Value of qualifying property passing to spouse), and Line 14 (the resulting gift value calculation) · Form 4808, page 1
Limitation of Credit
Enter Line 12 or Line 29, whichever is smaller · Form 4808, page 1
Total First Limitation
Sum of Line 11, Column A plus Column B · Form 4808, page 1
Before you submit
- 1Confirm that the gift was not made after 12/31/76 (if no credit is allowed).
- 2Verify Line 1, the Gift tax amount of gift, matches the reported value.
- 3Check if Column B is needed on Line 1 for a split gift portion recorded by the spouse.
- 4Ensure Line 10 (Total gift tax paid) correctly references Line 8 of Form 709.
- 5Confirm that Line 23 (Charitable deduction) is included in the calculation leading to Line 25.
- 6Verify that Line 28 (Tentative tax less aggregate gift taxes payable and applicable credit amount) matches input from Form 706 (8-2013 revision).
- 7Select Line 12 or Line 29 for the final Limitation of Credit on Line 30, ensuring it is the smaller value.
How to file this form
- 1Complete Lines 1 through 10 by calculating and entering gift amounts, deductions, and total tax paid.
- 2Calculate the First Limitation (Line 11) and the Total First Limitation (Line 12), ensuring split gifts are accounted for in Column B.
- 3Determine Line 14 (Value of the gift) using the specified formula based on whether Line 1 is greater or less than Line 13, then calculate Lines 15 through 19 to find the Total of lines 17 and 18.
- 4Calculate the Second Limitation (Line 29) by multiplying Line 20 by Line 27 by Line 28, before selecting the final Limitation of Credit on Line 30. Proof-of-filing is obtained by retaining a copy.
Known limitations
- 1No credit is allowed for gifts made after 12/31/76.
- 2When gifts for more than one full taxable year are included in the gross estate, a Separate computation of the two limitations must be made for each taxable year.
- 3Line 14 requires entering one of two calculations: (a) If line 1 is less than or equal to line 13, enter line 1 less line 2; OR (b) If line 1 is greater than line 13, enter line 13 less (line 13 less line 1 x line 2).
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Form 4808 (Rev. 11-2016), dated November 2016. The source does not specify a 'latest information' page but provides the official revision date.
What changed or needs a fresh check
- Edition date — confirm the revision reads November 2016.
- Catalog Number — confirm it reads 42021H.
- Form Title — confirm the title is Computation of Credit for Gift Tax.
- Limitation Note — confirm the note specifies that no credit is allowed for gifts made after 12/31/76.
Quick Facts
Downloads
After you file
- 1Keep a copy of Form 4808 (Rev. 11-2016) for record keeping.
- 2The form calculates the 'Limitation of credit' on Line 30, which is the final figure to use when determining the total gift tax credit.
- 3If filing related forms, ensure the values entered reflect the data from Form 709 (specifically lines 7 and 8) and Form 706 (line 24).
- 4The form references Line 12 of Form 706 (8-2013 revision), which is used to calculate the Tentative tax less aggregate gift taxes payable.
Sources
- SRCForm 4808 is titled Computation of Credit for Gift Tax and has a Catalog Number of 42021H (Form p.1).
- SRCThe form revision date on file is November 2016 (Rev. 11-2016) (Form p.1).
- SRCNo credit is allowed for gifts made after 12/31/76 (Form p.1, Footnote).
- SRCColumn B on Form 4808 should be used for the portion of donor's gift reported by spouse in case of split gifts (Form p.1, Footnote).
- SRCThe final 'Limitation of credit' is found on Line 30 and is determined by comparing Line 12 or Line 29, whichever is smaller (Form p.1).
- SRCLine 26, Adjusted taxable gifts, comes from Line 4 of Form 706 (page 1, Form 706) (Form p.1).
Common confusion points
What is the 'Total first limitation' (Line 12)?
It is calculated by adding Line 11 from Column A and Line 11 from Column B.
→ Check that you have accounted for both columns, especially if reporting a split gift.
When calculating the 'Second limitation' (Line 29), which value should be used in the formula?
You must use Line 20 multiplied by Line 27, and then multiply that result by Line 28.
→ Ensure you have correctly calculated Lines 20, 27, and 28 before using them here.
How is the 'Total gift tax paid' (Line 10) determined?
It comes from Line 8 on page 1 of Form 709.
→ Verify that the amount listed on your Form 709 matches this figure exactly.
What determines the 'Limitation of credit' (Line 30)?
This is the smaller amount between Line 12 (Total first limitation) or Line 29 (Second limitation).
→ Compare the two figures and select the lesser one for the final credit limit.
When calculating the 'Attributable marital deduction' (Line 17), what factors are used?
It is derived from Line 15 multiplied by Line 16, multiplied by Line 14.
→ Confirm that Lines 15, 16, and 14 are correctly calculated before finding this value.
What does the 'First limitation' (Line 11) represent?
It is the result of multiplying Line 6 (Amount of gift) by Line 9 (Total of lines 7 and 8).
→ Check that Lines 6 and 9 are correct, as this forms the basis for the first limitation.
Workflow map
Related forms and next steps
Before
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After
Often used with
⚠ If something goes wrong
- A separate computation must be made for each taxable year if gifts for more than one full taxable year are included in the gross estate.
Questions about IRS Form 4808
What is IRS Form 4808 used for?
This form calculates how much gift tax credit an individual or estate receives based on the gifts they have given away. It determines the total allowable credit by comparing both lifetime gift taxes and potential estate tax benefits. The final result shows the maximum amount of gift tax that can be credited against other liabilities.
Who must file IRS Form 4808?
The form is used when calculating credits related to gifts, specifically for estates or individuals reporting gift taxes on Form 709 (Schedule A).
What information does IRS Form 4808 require?
Part I collects information about the first limitation of the credit, including the total gift tax paid and specific exemptions allowed. Part II calculates the second limitation using estate tax values and deductions.
When is IRS Form 4808 due?
The source does not specify a filing due date, but it notes that when gifts for more than one full taxable year are included in the gross estate, a separate computation must be made for each taxable year.
Where do I file IRS Form 4808?
The official source does not list specific service centers or e-file instructions, requiring verification on the agency site.
How do I complete IRS Form 4808?
First, complete Part I by calculating lines 1 through 12. Then, proceed to Part II, completing lines 13 through 30. The form requires the filer to enter one of two different calculations for line 14 depending on whether the gift value is less than or greater than the estate tax value (line 13).
What happens if IRS Form 4808 is filed incorrectly?
If calculations are incorrect, the resulting credit amount (line 30) will be wrong, leading to an inaccurate final tax liability reported on Form 706.
What is the 'Total first limitation' (Line 12)?
It is calculated by adding Line 11 from Column A and Line 11 from Column B. Check that you have accounted for both columns, especially if reporting a split gift.
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