I gave gifts to my co-workers at times and supervisors.

Forum|Forum|1 year ago
February 9, 2025
3 replies
1 view

Would I need to report any of the FMV of the gifts on any of my tax returns or does that depend why I gave the gifts? I did charge them any money for them.

And at least one lady I gave her a space heater for her or and her mother, it was Used but in good shape, it was mine. After that she was sharing her trashbags that maybe she bought and brought to work for her trashcan, she at time(s) would put them in my trash can too. Not for sure, but maybe she considered herself paying me for the space heater I gave her, but I did not require her to pay me for the heater, so would that be considered Bartering or and any kind of taxable income that needs to be reported to IRS or and the State of New Jersey?

DoninGA

Level 15

These are gifts and not reported on tax return.

xmasbaby0

Level 15

No. There is nothing to enter on your tax return about gifts given to your co-workers or to your supervisor. Gifts to individuals are not deductible.

**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.**

fellynbalAuthor

Level 4

Thanks for replying

MindyB

Level 13

You are welcome. ‌Yes, they are still counted as gifts even though it was gifts to coworkers. ‌If you were an employer providing gifts, then it'd be different and would be treated as income to the employee. ‌But, since you aren't giving the gifts to employees as a form of wages, there's nothing special you need to do.‌ You don't need to report any of the items you mentioned.

MindyB

Level 13

None of these items are taxable or a deductible expense. They are personal in nature and do not need to be reported. ‌Gift are not taxable to the recipient, and gift tax returns only need to be filed by the giver once the gift is greater than $18,000 to one person, in 2024.

fellynbalAuthor

Level 4

Thanks for your input.

Are they counted as gifts when you give them to those that were of your places of Employment, versus just somebody outside of Employment? You may know how at least some thing(s) that are Employment related get treated differently than Non Employment related.