I've been trying in vain to find an answer to this because all that is ever discussed (including at the IRS) if the $18,000 2024 limit on GIVING to a person.
I need to know the limits for being taxed on RECEIVING cash gifts
I need to know if I have two different unrelated people who want to give me $18,000 each (so I would actually get $36,000) do I pay tax on that gift?
Or is there no limit as to how much I could receive annually as a gift as long as each person didn't go over THEIR $18,000 limit, and until I reach the total lifetime allowable amount (I think its $1million).
Thank you!
