I received $350K from my father in 2021 to pay off my house, he used to send $80K per 3 months. what I should list in 54a, b, c?
Is it like the
A B C
02/20/2021 $80000 FMV of property received?????
05/20/2021 $80000 FMV of property received?????
08/20/2021 $80000 FMV of property received?????
[removed] $80000 FMV of property received?????
List date in column (a), 'Cash' in column (b), and '$80,000' in column (c).
List date in column (a), 'Cash' in column (b), and '$80,000' in column (c).
Thank you!
What about Box b Taxpayer identification number (TIN) & Spouse’s TIN?
Is it my SSN and Wife SSN?
Yes, you should use both your SSN as the "TIN" for that entry.