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

View solution in original post