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Level 2
February 11, 2026
Solved

Lifetime gift

  • February 11, 2026
  • 1 reply
  • 0 views

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?

Best answer by M-MTax

Expert Reviewed

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.

1 reply

M-MTax
M-MTaxAnswer
Level 15
February 11, 2026

Expert Reviewed

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.