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Level 2
January 30, 2020
Question

SOmeone gifted me a check for $5k , how or where do I report it?

  • January 30, 2020
  • 1 reply
  • 8 views
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1 reply

VolvoGirl
Level 15
January 30, 2020

You dont report gifts received on your tax return.  Did you get a form for it like a K-1 or 1099?

Level 2
January 31, 2020

The person who gave it to me , is reporting it to his taxes that he donated or some sort. And I have to report it as well , I just wanted to know how do I report the ‘donation’

VolvoGirl
Level 15
January 31, 2020

We need more information about it.  Did he give you a 1099Misc for it?  Why did they give it to you?  You do not report gifts received on your tax return.  He can not deduct donations to individuals only to churches or qualified charities.