topic I was given a money gift from my mom last year (2018) for $7500. do I still list on taxes as income even though its an exclusion?? in Get your taxes done using TurboTax

I was given a money gift from my mom last year (2018) for $7500. do I still list on taxes as income even though its an exclusion??

mtyankee — Sat, 01 Jun 2019 18:19:21 GMT

Bees — Sat, 01 Jun 2019 18:19:21 GMT

That is not taxable income and does not need to be shown on your tax return.

MinhT — Sat, 01 Jun 2019 18:19:23 GMT

Gifts are not taxable and are not reported on your tax return.

SweetieJean — Sat, 01 Jun 2019 18:19:25 GMT

However, it can be recorded as nontaxable income in the Sales Tax deduction section if you are itemizing.