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Deductions & credits
Gifts given and gift received are not reported on a tax return.
If the amount of the gift give to a single individual is $18,000 or more then you are required to complete and file an IRS Form 709. You will not owe any gift taxes if the total of all gift give is less than $13,61 million.
TurboTax does not support Form 709. The Form 709 is mailed separate from your tax return to the address noted in the form 709 instructions.
IRS Form 709 - https://www.irs.gov/forms-pubs/about-form-709
March 10, 2025
12:44 PM