topic Should I report gift of 17000 each to three separate donees? in Get your taxes done using TurboTax

Should I report gift of 17000 each to three separate donees?

todd22077 — Wed, 11 Feb 2026 03:31:09 GMT

My spouse and I each gave 17000 gifts to daughter and two grandchildren

Re: Should I report gift of 17000 each to three separate donees?

DoninGA — Wed, 14 Feb 2024 21:48:24 GMT

If the gift to each individual was exactly $17,000 each in 2023 you do not have to report the gifts given on an IRS Form 709.

Re: Should I report gift of 17000 each to three separate donees?

xmasbaby0 — Wed, 14 Feb 2024 21:48:28 GMT

GIFTS

Gifts given to family members, friends or other individuals are not deductible. Gifts received are not taxable to the person who received the gift, and are not entered on a tax return.

If your gift exceeds the yearly limit ($17,000 per individual) imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form and send it to the IRS, although it is very unlikely that you will owe any tax. In 2024 that yearly limit will increase to $18,000.

TurboTax does not support Form 709. It is not an income tax form and would not be included as part of an income tax return.

Here is a link to the form:

https://www.irs.gov/pub/irs-pdf/f709.pdf

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

Re: Should I report gift of 17000 each to three separate donees?

Anonymous_ — Wed, 14 Feb 2024 21:49:33 GMT

The annual gift tax exclusion amount is $17,000 per donor per donee for 2023 ($18,000 per donor per donee for 2024).

In other words, if you gave $17,000 to your daughter and $17,000 to each of your grandchildren in 2023, you would not need to file a gift tax return based on those figures.