• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

EVP Systems

  • Home
  • Support
    • Contact
    • FAQs
    • Tutorials
  • Software
  • Services
  • Accounts
    • Sign-Up
    • Mailing Lists
    • Pricing
    • Payments
  • About Us
    • The Company
    • EVP Office
    • Professional Services
    • EVP Everywhere
    • EVP Upload
    • Legal and Compliance
    • Sales Material
    • Contact Us

GiftVal Tutorial

GiftVal is designed for valuing gifts for tax purposes, specifically generating ready-to-file reports for IRS Form 709. It’s very similar to EstateVal, so a good starting point to learning GiftVal is to read the introduction to EstateVal.

Using GiftVal differs from EstateVal mostly in what gets entered into the Grid. Where EstateVal has columns for the security identifier and the shares / par of each holding, GiftVal adds three more: Payments, Basis Value, and Basis Date.

Payments determines if payments for the lot are included in the value on the report. For each lot in GiftVal, you can specify if payments are explicitly included with the gift, explicitly omitted from the gift, or if they are included or omitted according to the default behavior of the software.

Which setting is correct? It depends on the circumstance, but in general, if the security will be owned by the recipient, and the payment will go to them, then it will be included and considered part of the gift. If the security’s ownership is still with the grantor and they will receive payment, then the item is omitted as it is not part of the gift.

For instance, using the default behavior, if a dividend has gone “of-record” but not yet been paid, then it will not be included in the gift. The grantor was the owner of the security when it went of-record, so the check for the payment will be sent to him or her, meaning it was not part of the gift. Alternately, partial accruals are, by default, included in the gift, since they— and the rest of the accrual for the coupon—will be mailed to the recipient, as they will be the owner when the period ends. (For a specific list of how each security type is treated, see below, under “Stocks” and “Bonds”.)

The “Default” behavior is what EVP Systems considers the right thing to do, for any given circumstance. But you can make this decision explicitly on a per-lot basis, by changing the drop-down as needed, accounting for unusual or unexpected circumstances.

If a payment is excluded from the value of the gift, it can still be shown on the report, according to the Note for Omitted Dividends and Note for Omitted Accruals preferences set in the Tools → Options... → Report dialog. This makes it easy to see what is and isn’t included as part of the value of the gift—payments not included in the value are explicitly labelled “Omitted.” But if you prefer to simply leave them off—as if they never existed — you can edit these preferences to change the report.

Basis Value and Basis Date are informational only—if they are entered, they will be included with each lot on the report, to add some history to the security that’s being gifted. Otherwise, they’re excluded.

GiftVal also supports an Appraisal report. This is identical the the Appraisal Date report that EstateVal can produce, and is included for convenience.

Because gifted portfolios are only valued for a single date, there are no adjusted inventories in GiftVal, though prices can be entered manually (the same way they can in EstateVal) using the Edit Lot button at the bottom of the Grid.

“Stocks” and “Bonds”

GiftVal divides all the security types it knows about into the broad categories of “stocks” and “bonds” when it’s deciding if it should include or omit the payments from the report. Here are all the security types considered “stocks”:

  • Stock
  • Mutual Fund
  • Common Trust Fund
  • Unit Investment Trust
  • Limited Partnership
  • Text
  • Text and Shares
  • Index

And these are the security types considered “bonds”:

  • Corporate Bond
  • Municipal Bond
  • Treasury Bond or Note
  • Bond (Generic Accrual)
  • Mortgage Backed Security
  • Treasury Bill
  • Savings Bond, Series E/EE
  • Savings Bond, Series H/HH
  • Savings Bond, Series I
  • Certificate of Deposit (Short Term)
  • Certificate of Deposit (Long Term)
  • Savings Note

Reports

Like EstateVal, GiftVal’s reports can be saved from their Print Preview screen as text (.TXT), word processor files (.RTF), PDFs (.PDF) and Excel (.XLSX) spreadsheets, just by using the appropriate buttons in the title bar.

The data can also be exported as “Excel (XSLX)” and “Excel (XSLX, Simple)” by setting the Type selection in the Tools → Options... → Export dialog box, and using File → Export → From Files → [Report Type]… menu item.

Posted on August 11, 2020 • Tagged with GiftVal, Tutorials

Primary Sidebar

Things You Should Know

  • Good to Know: Reports on April 9, 2025
  • Happy Holidays from EVP Systems! on December 9, 2024
  • Fee Changes for 2025 on November 1, 2024
  • We're Going to Disneyland---for NAEPC 2024! on October 18, 2024
  • CrowdStrike BSOD and EVP Systems
  • EVP Office 9.1.3 Now Available on July 18, 2024
  • EVP Office 9.1.0: Now Available, Featuring Name Preview on January 8, 2024
  • EVP Systems at Heckerling 2024 on January 3, 2024
  • Happy Holidays from EVP Systems! on December 11, 2023
  • EVP Systems at the California Probate Referees Conference on November 30, 2023
  • Join us at NAEPC 2023 on November 11, 2023
  • Good to Know: The Grid on August 23, 2023
  • Announcing Fee Changes for 2023 on October 7, 2022
  • "Single Broker Quotes" Available Again on April 14, 2022
  • EVP Systems Prepared for Russia / Ukraine Conflict on March 14, 2022
  • Expat and Open Source at EVP Systems on March 1, 2022
  • EVP Office 9.0.1 Offers Built-In Calculator, More Crypto, New Export on February 8, 2022
  • Jack Barthel, 1937 - 2021 on January 19, 2022
  • EVP Systems Unaffected by log4shell and Associated Vulnerabilities on December 13, 2021
  • EVP Office 9: Something Big! on October 13, 2021
  • EVP Office 8.5.3: Secure by Default on July 13, 2021
  • Ready for Windows 11 on July 2, 2021
  • EVP Office 8.5.2: Native Excel Export, Better Copy-and-Paste, Mailing Lists on April 8, 2021
  • A Lockdown Check-In on October 5, 2020
  • Upgrade Your Invoice on September 21, 2020
  • EVP Systems Introduces Modern, Streamlined Website on August 13, 2020
  • EVP Office 8.5.0 Released on June 17, 2020
  • EVP Systems Continues to Support Retired Versions of Windows on December 4, 2019
  • EstateVal 8.4.0 Prices Foreign Currencies, Precious Metals on October 25, 2019
  • GEMS Adds EVP Everywhere for Faster, Easier Pricing on April 15, 2019
  • EVP Office 8.3.1 Now Available; Features Easy Pricing of Puts and Calls on March 15, 2019
  • Reminder: Fee Changes Coming in 2019 on December 28, 2018
  • TEdec Adds Built-In Evaluations, with EVP Everywhere on December 3, 2018
  • Primary and Composite Exchange Pricing in EstateVal
  • A Brief Introduction to EstateVal

EVP Systems: Trusted for over 40 years!

Footer

About EVP Systems

Trusted by thousands of banks, brokerages, and law firms, Estate Valuations & Pricing Systems has been the leading provider of high-quality security evaluations for estate- and gift-tax purposes for over 40 years.

Get in Touch

1531 Chapala St., #1
Santa Barbara, CA 93101
(818) 313-6300 • FAX: (818) 313-6313
support@evpsys.com
sales@evpsys.com
Twitter
Mailing Lists

Explore the Site

EstateWorks Good to Know Training Mode Software Open Source

All contents copyright © 1984–2025 Estate Valuations & Pricing Systems, Inc. • Do Not Sell My Personal Information • Service Status