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Retirement tax questions
No. A gift is never taxable to the recipient of the gift.
Technically, you mother is required to file a gift tax return, form 709. "Gift Tax" is somewhat of a misnomer. Even though a gift tax return may be required, very few people ever actually pay federal gift tax. The purpose of the gift tax return is usually only to document a reduction in the allowable estate tax exemption.
See https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax-Made-Simple/...
‎June 1, 2019
8:28 AM