Financial Gift

[jlhowar1]

How do I report a financial gift to me from a land sale?  is it a capital gain if I didn't own the land but the family did.

[DoninGA]

A gift of cash is not reported on a tax return.

[ErnieS0]

Gifts are not taxable to the recipient as esteemed Tax Champ @DoninGA states. The giver may have to pay a gift tax – or at least file a gift tax return.

See our helpful article The Gift Tax.