turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have given my adult child about $8,000 this year to help support her and her children. Can I get credit for supporting her

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I have given my adult child about $8,000 this year to help support her and her children. Can I get credit for supporting her

Gifts to individuals are not deductible.   

 

 

Gifts given to family members, friends or other individuals are not deductible.   Gifts received are not taxable to the person who received the gift, and are not entered on a tax return.

 

If your gift exceeds the yearly limit ($17,000 per individual)  imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form and send it to the IRS, although it is very unlikely that you will owe any tax.    In 2024 that yearly limit will increase to $18,000.

 

TurboTax does not support Form 709.  It is not an income tax form and would not be included as part of an income tax return.

 

Here is a link to the form:

https://www.irs.gov/pub/irs-pdf/f709.pdf

 

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I have given my adult child about $8,000 this year to help support her and her children. Can I get credit for supporting her

You gave your child a gift.  Gifts given are not reported on a tax return.  Nor are gifts received reported on a tax return.

Support given to a person is not reported on a tax return.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question