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Deductions & credits
No. Neither the beneficiary of the account (the child) or his parents report anything about the uncle's contribution/gift on their tax return. Gift recipients do not file a gift tax return; only the giver.
The Uncles gift does not affect the parents ability to contribute to other accounts or even the same 529 that the Uncle gives to.. The $14,000/$70,000 limit is per individual giver
The Uncles gift does not affect the parents ability to contribute to other accounts or even the same 529 that the Uncle gives to.. The $14,000/$70,000 limit is per individual giver
‎June 3, 2019
1:41 PM