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Level 1

Gift to children

Why is it that Turbo tax does not allow me to process $$$ gifts to the child? Instead, it sends me to a complex IRS form

2 Replies
Level 15

Gift to children

TT is an INCOME tax program.  It does not support gift taxes.

Level 15

Gift to children

Gifts are not reported in a tax return.


Gifts over $15,000 need to be reported on a separate 709 form.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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