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Get your taxes done using TurboTax
@Anonymous You do not have to file a gift tax return. For 2018, 2019, 2020 and 2021, the annual exclusion is $15,000 per person.
There is no proof required of a gift. You may want create a document recording the amount of the gift, date and value, e.g. you could send your parents a letter specifying that amount you gave to each and retain a copy for yourself.
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‎April 26, 2021
11:15 AM