MindyB
Employee Tax Expert

Get your taxes done using TurboTax

No, you don't need to report this. For 2025, the IRS annual gift tax exclusion limit is $19,000. 

 

If you were to exceed this amount (per recipient), you would be required to report the gift on IRS Form 709, which is a separate filing from your 1040. 

 

See: The Gift Tax Made Simple for more information.