How do I claim money given to me by my Aunt for cleaning and minor repairs of a home she sold?

Forum|Forum|3 years ago
January 26, 2023
2 replies
19 views

I basically just removed all items from an old 2 story house, cleaned it and done some minor repairs. But she insisted on giving me half of the sale amount ($74k).

TurboTax Online

Best answer by MinhT1

The money she gave you is not commensurate with the work you did. So one can assume that it was a gift from your aunt.

If it was a gift, then it is not taxable for you and you do not report it on your tax return.

As the gift is over the gift exclusion ($16,000 in 2022), your aunt will have to file a gift report - form 709 (see HERE). Form 709 is not supported by TurboTax.

MinhT1Answer

Level 15

The money she gave you is not commensurate with the work you did. So one can assume that it was a gift from your aunt.

If it was a gift, then it is not taxable for you and you do not report it on your tax return.

As the gift is over the gift exclusion ($16,000 in 2022), your aunt will have to file a gift report - form 709 (see HERE). Form 709 is not supported by TurboTax.

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