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Get your taxes done using TurboTax
Unless you have gifted over $11.58 million to date then you will not owe any gift taxes.
You must report the gift given if over $15,000 in 2020 on an IRS Form 709. TurboTax does not support Form 709.
The Form 709 is required to be filed no later than the due date of a federal tax return, May 17, 2021. It is filed separately from your federal tax return and can only be mailed to the IRS using address in the Form 709 instructions.
IRS Form 709 - https://www.irs.gov/pub/irs-pdf/f709.pdf
IRS Form 709 instructions - https://www.irs.gov/pub/irs-pdf/i709.pdf
‎April 2, 2021
8:38 AM