Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
Gifts are not taxable to the recipient - but if they exceed certain annual thresholds, they require the person providing the gift to file a Gift Tax return...... ($15,000 per person in 2019). So you have a ways to go. A married couple can combine gifts, so your father and mother could each make you a gift up to $30,000 and still not taxable to you or reportable on a Gift Tax return by them....
Still have questions?Make a post