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I gave money ( $30,000 as a gift) to my daughter. I would like to file it with my taxes.

 
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I gave money ( $30,000 as a gift) to my daughter. I would like to file it with my taxes.

Unfortunately, gifts made to an individual are not deductible, no matter who the individual is. If you give more than $14,000 to any one individual, then you will likely have to file a Form 709 Gift tax form to report the gift. Gifts of more than that amount reduce your lifetime exclusion from estate tax.
Form 709 is not an income tax form and Turbotax does not support it. You can get the form and the instructions for it for free from the IRS web site, at this link:
http://apps.irs.gov/app/picklist/list/formsPublications.html;jsessionid=j6pAih2A4S7pnn+FIt3f7A__?val...

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4 Replies

I gave money ( $30,000 as a gift) to my daughter. I would like to file it with my taxes.

Unfortunately, gifts made to an individual are not deductible, no matter who the individual is. If you give more than $14,000 to any one individual, then you will likely have to file a Form 709 Gift tax form to report the gift. Gifts of more than that amount reduce your lifetime exclusion from estate tax.
Form 709 is not an income tax form and Turbotax does not support it. You can get the form and the instructions for it for free from the IRS web site, at this link:
http://apps.irs.gov/app/picklist/list/formsPublications.html;jsessionid=j6pAih2A4S7pnn+FIt3f7A__?val...
danmalandro
Returning Member

I gave money ( $30,000 as a gift) to my daughter. I would like to file it with my taxes.

Do I file Form 709 separately? Can I still e-file or must I mail my return along with Form 709?

I gave money ( $30,000 as a gift) to my daughter. I would like to file it with my taxes.

Turbo Tax does not support the gift tax form 709, but here is a link:
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f709.pdf">https://www.irs.gov/pub/irs-pdf/f709.pdf</a>

<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N">https://turbotax.in...>
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I gave money ( $30,000 as a gift) to my daughter. I would like to file it with my taxes.

A form 709 is not an income tax form.  You do not include it with your income tax return.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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