My father in law gave me $65,000. He wired the money to my checking account and I immediately transfered it to my mortgage payment. So I have to claim it?

johnson947 · ‎June 3, 2019

MaryK1 · ‎June 3, 2019

No, if it was a true gift- not in exchange for an interest in the property or in exchange for future services from you- truly "no strings attached" it is not taxable income and does not have to be reported by you as the recipient.

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MaryK1 · ‎June 3, 2019

No, if it was a true gift- not in exchange for an interest in the property or in exchange for future services from you- truly "no strings attached" it is not taxable income and does not have to be reported by you as the recipient.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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My father in law gave me $65,000. He wired the money to my checking account and I immediately transfered it to my mortgage payment. So I have to claim it?