@tcheimre wrote:
I got your reply that I can declare money gifs to children...but where is it to addressed in the tax forms? Listed as one of the charity listing? Or some other place?
Gifts given are not reported on a tax return.
If the gifts given to a single individual is more than $17,000 in 2023 you have to complete an IRS Form 709.
TurboTax does not support Form 709. It is sent separately from the federal tax return and has to be mailed to the address in the 709 Instructions.
Go to this IRS website for a Form 709 - https://www.irs.gov/forms-pubs/about-form-709
