There is no limit to gifts in general.
There is a yearly exemption of $15,000 for each donee. So your cousin can gift each of you $15,000 without the need of filing a gift return (form 709 which is not supported by TurboTax).
For gifts above $15,000 to each donee, the donor has to file a gift return, but he has a lifetime exemption of $11.2 million before having to pay gift tax.
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