My parents give us $175 each month, as a gift. Where do I put that under income?

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If it is a gift under $12,000 (it may now be 14,000...) per year, it is tax free and not considered income. You do not have to claim it.

Gifts are never taxable to the recipient of the gift.

The gift giver may have a technical filing requirement for gifts over $15,000 but the gift tax only kicks in after lifetime gifts exceed $11.400 million in 2019.

The Gift Tax Made Simple

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is capital gains included in the taxable income limit of $96700 per married couple? Do we get to take off our standard deduction? IE How do they count our income regarding this taxed limit? Which line of the 1040 is the determining amount ?

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My parents give us $175 each month, as a gift. Where do I put that under income?

My parents give us $175 each month, as a gift. Where do I put that under income?

My parents give us $175 each month, as a gift. Where do I put that under income?

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My parents give us $175 each month, as a gift. Where do I put that under income?

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My parents give us $175 each month, as a gift. Where do I put that under income?

My parents give us $175 each month, as a gift. Where do I put that under income?

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