reporting a cash gift by the recpient

[Paolooch]

I will be receiving a cash gift from a parent. It will be over $15,000. My parent will file the form 709 and pay the taxes on it. I know I will not owe any taxes, but do I have to report it, and where?

Thanks.

TH666

[Bsch4477]

Gifts are not taxed for the recipient and not reported so you don’t have to do anything. 

[Paolooch]

Thanks.

Stay safe.

[Opus 17]

You are only required to report receipt of a gift if the payer is a foreign person; the reporting limit is $15,000 for gifts from a company and $100,000 for gifts from persons (aggregate limit per year).   If the payer is a US person  (citizen, green card holder, resident alien) then no reporting is required.