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Level 1
January 31, 2020
Question

I received a Christmas check from my step father in the amount of $10,000. Do I need to claim that on my taxes

  • January 31, 2020
  • 2 replies
  • 17 views
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2 replies

Level 5
January 31, 2020

I assume this was a gift.  It is not taxable if it was.

Level 15
January 31, 2020

Gifts that you receive are not taxable and do not get entered on your tax return. 

The IRS allows every taxpayer to gift up to $15,000 to an individual recipient in one year.  

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