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.

Lifetime gift

If I receive a cash gift in excess of 19k, do I report it or the person who gave the money reports it?  If it is me, which turbo tax level should I buy?

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.

1 Best answer

Accepted Solutions
M-MTax
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Lifetime gift

The person who gave you the gift (the donor) should report it to the IRS on Form 709.

 

You do NOT need to report the gift on your return or elsewhere.

 

Form 709 is not supported by TurboTax.

View solution in original post

1 Reply
M-MTax
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Lifetime gift

The person who gave you the gift (the donor) should report it to the IRS on Form 709.

 

You do NOT need to report the gift on your return or elsewhere.

 

Form 709 is not supported by TurboTax.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question