My brother and I received money from our mother this year over $15,000.00 do we file the amount on our taxes anywhere? Does our mother need to file a form or pay taxes?
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1 Best answer
MichaelL1
Level 15
Jun 1, 2019 1:49:08 AM
When you get a gift you do not need to do anything on your taxes.
If a person gives a gift of over $15,000 a year (in 2018) then they would file a gift tax return.
You however do not need to do anything.
1 Replies
MichaelL1
Level 15
Jun 1, 2019 1:49:08 AM
When you get a gift you do not need to do anything on your taxes.
If a person gives a gift of over $15,000 a year (in 2018) then they would file a gift tax return.