A gift is not reported as income on your tax return. In 2021, persons can give up to $15,000 to someone in a year not have to report it. If the amount exceeds $15,000, the person giving would file a Gift Tax return, not the recipient.
SweetieJean
Level 15
Jan 25, 2022 3:13:55 PM
If you are itemizing, you can report this amount in the Sales Tax deduction calculation section.