Can i claim a 10000 gift to my daughter? Where to i enter the gift amount on my 1040?

[xmasbaby0 · Accepted solution]

No.  Gifts to individuals are not deductible, nor are they taxable for the recipient.

[ScruffyCurmudgeon]

1. Gifts made for whatever purpose, in and of themselves, never create an income tax liability for the recipient nor the donor and do not provide for any deduction of taxes owed by the donor.   Gifts are not an expense and are not deductible for that reason.
   
   
2. If you do give an income producing gift like a share of stock, once the ownership changes, the new owner must report any income thereafter.
   
   
3. Recognizing that you stated the gift amount as $10,000, just keep in mind for the future that If one person (such as you alone) gives more than $15,000 in one year directly to one other person (such as your child), then you would have created the need to file in that year and every succesive year a Form 709 Gift Return (not part of the Income Tax system, not supported by TurboTax).