You do not need to report this on your tax return as a gift and there are no credits for giving a gift.
The annual exclusion amount for 2020 was $15,000. Any gift larger than that amount would need to be reported on a Form 709.
Here is a link to IRS information about gifts.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
