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How do I prove we gifted cash money to my in laws?

 
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4 Replies

How do I prove we gifted cash money to my in laws?

You don't report gifts given or received on your tax return.  Why do you need to prove it and to who?  Probably only your bank statements have that info.  

How do I prove we gifted cash money to my in laws?

If someone (say a Lender) needs that, ask them what they will accept as proof.

How do I prove we gifted cash money to my in laws?

The recipient of a gift can record it as nontaxable income for purposes of the Sales Tax Deduction if they itemize.
Coleen3
Intuit Alumni

How do I prove we gifted cash money to my in laws?

You don't have to. You are allowed a gift of up to $15,000 per year, per person. If you gift more than that to any one person, you will file a Form 709, Gift Tax Return.

https://www.irs.gov/pub/irs-pdf/i709.pdf

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