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Monetary Gifts in 2020
Good Morning,
My wife and I file joint federal taxes.
Throughout 2020 my wife's mother gave us $30,000 in cash to help support our family's financial needs. I don't know the exact dates when she gave the gifts to my wife.
Should this be counted as income? If so, where would I enter it on the tax form?
Thank you,
Scott Moyer
Topics:
‎January 8, 2021
6:13 PM