Monetary Gifts in 2020

[moyers0913]

Good Morning,

My wife and I file joint federal taxes.

Throughout 2020 my wife's mother gave us $30,000 in cash to help support our family's financial needs.  I don't know the exact dates when she gave the gifts to my wife.

Should this be counted as income?  If so, where would I enter it on the tax form?

Thank you,

Scott Moyer

[VolvoGirl · Accepted solution]

No.  You don't report gifts received or given on your tax return. It is not taxable.