topic If I received a gift from a monetary gift from a relative, how much of that is tax exempt - i.e. the yearly gift amount? And if it's an amount over, where report? in Get your taxes done using TurboTax

If I received a gift from a monetary gift from a relative, how much of that is tax exempt - i.e. the yearly gift amount? And if it's an amount over, where report?

chiefgracie0322- — Tue, 04 Jun 2019 20:28:56 GMT

Where do I report the gift in the my taxes? And do I only report the amount over the gift amount?

Rainman12 — Tue, 04 Jun 2019 20:28:58 GMT

You don't report gifts at all. If over $14,000, giver should file a Form 709 (Gift tax return) ...