Do I need to report large amounts of gifted money received? What if I received money from a few people in small amounts throughout the year & that added up to around 50k?

[jessii1101]

I am sure IRS would wonder where that money came from and I want to make sure I report everything I need to report.

[DoninGA · Accepted solution]

Gifts from individuals are not reported on a tax return, regardless of the amount received.