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I gave my daughter a large sum of money as a gift, how do i show that on my tax return and what does she need to claim it?

 
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DanaB27
Expert Alumni

I gave my daughter a large sum of money as a gift, how do i show that on my tax return and what does she need to claim it?

You and your daughter do not enter gifts on your income tax return. But depending on the amount you may have to file a gift tax return. Please see IRS Frequently Asked Questions on Gift Taxes for detailed information.

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