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Level 1
March 31, 2020
Question

Gift Income

  • March 31, 2020
  • 1 reply
  • 8 views

Is money gift taxable?  I received $5500 last year from a friend helping out with rent and living expenses?

1 reply

DoninGA
Level 15
Level 15
March 31, 2020

Gifts received from an individual are not entered on a tax return, regardless of the amount received.