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bwlawson-jr
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Reporting a non-cash gift given to me

I am a hobbyist musician and live in Virginia.  In 2023, a local church asked me to lead their music on occassion.  They paid me, usually around $200 each time.  After leading several times, they gave me a guitar as a gift.  Someone had donated the guitar to the church several years ago.  The guitar was just sitting around for years, no longer in use.  The guitar is worth $800-$900.  How should I report this in TurboTax?

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1 Reply

Reporting a non-cash gift given to me

Gifts are not taxed as long as it was truly a gift and not compensation for work that you did. 

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