topic Financial Gift in Get your taxes done using TurboTax

Financial Gift

jlhowar1 — Mon, 09 Mar 2026 10:19:58 GMT

How do I report a financial gift to me from a land sale? is it a capital gain if I didn't own the land but the family did.

Re: Financial Gift

DoninGA — Sat, 16 Apr 2022 15:39:07 GMT

A gift of cash is not reported on a tax return.

Re: Financial Gift

ErnieS0 — Sat, 16 Apr 2022 15:45:38 GMT

Gifts are not taxable to the recipient as esteemed Tax Champ @DoninGA states. The giver may have to pay a gift tax – or at least file a gift tax return.

See our helpful article The Gift Tax.