@mdhubel wrote:
What about gifts?
Gifts received are not reported on a tax return, regardless of the amount received.
Gifts given are not reported on a tax return. However, if the gift given to a single individual is over the exclusion amount of $16,000 (2022) it must be reported to the IRS using Form 709.
Form 709 is a stand-alone IRS form that is not included with nor sent with a tax return. It is sent separately from the return and must be filed on or before the due date of the tax return.
TurboTax does not support IRS Form 709.
IRS website for Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return - https://www.irs.gov/forms-pubs/about-form-709
