A friend gave me $300,000.00 as a gift. Would this be taxable for me? If so, how do I claim? Do I claim as regular income like wages?

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Assuming this is a legitimate gift, it is not taxable to you; but can be recorded as nontaxable income in the Sales Tax deduction section.

Your friend must file a Gift Tax Return. Is he/she overseas?

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$300,000?

Assuming this is a legitimate gift, it is not taxable to you; but can be recorded as nontaxable income in the Sales Tax deduction section.

Your friend must file a Gift Tax Return. Is he/she overseas?

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