You'll need to sign in or create an account to connect with an expert.
If the income received is not for any type of work that you do for your parent's then it is a gift. Gifts received are not reported on a tax return, regardless of the amount received.
If the income received is not for any type of work that you do for your parent's then it is a gift. Gifts received are not reported on a tax return, regardless of the amount received.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
sls19
Level 1
catkik
Level 3
KWR1
Level 2
diaolilin
Level 3
ken-r
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.