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Get your taxes done using TurboTax
A gift received from an individual is not reported on a tax return, regardless of the amount received. So yes, you could receive $75,000 from 5 different individuals or even from just one individual and not have to report the gift on a tax return.
The annual gift that can be given without having to file a Form 709 is $14,000 per individual. The reporting of the gift is only by the giver of the gift, not the recipient of the gift.
‎June 5, 2019
12:12 PM