Money you gave to your daughter is not reported on your tax return and likewise, any money received from your daughter is not included as taxable income on your tax return.
When you gave your daughter money that could have been considered a gift, unless you had documents drawn up for her to repay it as a loan.
The annual gift exclusion for 2024 is $18,000. If you are married, the the gift splitting would come into play and the amount would be $36,000. If you don't meet this, and there is no loan, then you should file a gift tax return for 2024, however there should not be any tax liability because there is a lifetime exclusion.
- The 2024 lifetime gift exemption is $13.61 million. Because the exemption is per person, married couples can exclude double that — $27.22 million — in lifetime gifts.
This forum does not provide additional information about gift tax returns.
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