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Get your taxes done using TurboTax
Gifts received are not reported on a tax return, regardless of the amount received.
The giver of a gift does not report the gift given on a tax return. However, if the gift given to a single individual is greater than $15,000 then the gift is reported to the IRS using IRS Form 709. There will be no taxes owed on the gifts given if the total of all gifts ever given is less than $11.58 million.
TurboTax does not support IRS Form 709
IRS Form 709 - https://www.irs.gov/forms-pubs/about-form-709
‎November 8, 2021
3:08 PM