Do I need to report a monetary gift my father gave me last year?

[heathermiller309]

I received the gift on 12/28/23 and used it all to pay off credit card debt.

[xmasbaby0]

Gifts given to family members, friends or other individuals are not deductible.   Gifts received are not taxable to the person who received the gift, and are not entered on a tax return.

If your gift exceeds the yearly limit ($17,000 per individual)  imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form and send it to the IRS, although it is very unlikely that you will owe any tax.    In 2024 that yearly limit will increase to $18,000.

TurboTax does not support Form 709.  It is not an income tax form and would not be included as part of an income tax return.

Here is a link to the form:

https://www.irs.gov/pub/irs-pdf/f709.pdf

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

[Bsch4477]

Gifts are not taxed and the recipient doesn’t have to report it. If over $17,000 the giver should report on form 709. 

[ee-ea]

Assuming you both are US citizens.  You do not have any tax reporting.   Depending on the amount he might have gift tax.