topic SOmeone gifted me a check for $5k , how or where do I report it? in Get your taxes done using TurboTax

SOmeone gifted me a check for $5k , how or where do I report it?

ajimenez690 — Thu, 30 Jan 2020 01:28:41 GMT

Re: SOmeone gifted me a check for $5k , how or where do I report it?

VolvoGirl — Thu, 30 Jan 2020 01:30:49 GMT

You dont report gifts received on your tax return. Did you get a form for it like a K-1 or 1099?

Re: SOmeone gifted me a check for $5k , how or where do I report it?

ajimenez690 — Fri, 31 Jan 2020 00:29:08 GMT

The person who gave it to me , is reporting it to his taxes that he donated or some sort. And I have to report it as well , I just wanted to know how do I report the ‘donation’

Re: SOmeone gifted me a check for $5k , how or where do I report it?

VolvoGirl — Fri, 31 Jan 2020 00:38:30 GMT

We need more information about it. Did he give you a 1099Misc for it? Why did they give it to you? You do not report gifts received on your tax return. He can not deduct donations to individuals only to churches or qualified charities.