turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Yes No
Carrie23
Returning Member

Gift received

What is the reporting requirement for receiving stocks/property/cash from parents as gift? Any difference if parents are not US residents?

posted
‎November 16, 2022 3:47 PM
last updated ‎November 16, 2022 3:47 PM
0
1
175
Reply
Bookmark Icon
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Corrlich44
Level 5
Level 5

Gift received

Hi Carrie23,

 

Anyone, especially a child, can receive a gift from a parent. Only the Parent is subject to Gift Tax Requirements as the Giver, not the Receiver, regardless of where the Giver lives.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎November 16, 2022 3:55 PM
0
162
Reply
Bookmark Icon

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Featured forums
Taxes
Lower Debt
Investing
Self-Employed
All topics

Unlock tailored help options in your account.

Live Assisted: Get answers to all your tax questions! Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Live Assisted. Explore your options!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

dac10012
dac10012
dac10012
temberharward
jobojo01