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Deductions & credits
Sorry you can only deduct gifts to IRS qualified charities and then only if you Itemize.
You don't report gifts given or received on your personal tax return. If someone gives more than $15,000 to any one person, the giver might have to file a gift tax return form 709 to deduct the gift off their lifetime 5.43 million dollar exclusion but there won't be any taxes due.
March 31, 2020
9:49 PM