A gift given to an individual is not reported on a federal tax return. A gift received from an individual is not reported on a federal tax return, regardless of the amount received.
If the gift given is $14,000 or more to a single individual then you have to complete and file a Form 709 Gift Tax return. There will be no taxes owed on the gift if your total gifts given in a lifetime are less than $5.45 million.
TurboTax does not support IRS Form 709
