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Gifts given or received are not reported on a tax return.
If the gift you gave in 2023 is greater than $17,000 to a single individual then you have to report gift given to the IRS using IRS Form 709. There will not be any taxes assessed on the gift given if the total of all gifts ever given are less than $12.92 million in 2023.
TurboTax does not support For 709
IRS website for Form 709 - https://www.irs.gov/forms-pubs/about-form-709
Form 709 isused for gift tax. https://www.irs.gov/forms-pubs/about-form-709
Gifts given or received are not reported on a tax return.
If the gift you gave in 2023 is greater than $17,000 to a single individual then you have to report gift given to the IRS using IRS Form 709. There will not be any taxes assessed on the gift given if the total of all gifts ever given are less than $12.92 million in 2023.
TurboTax does not support For 709
IRS website for Form 709 - https://www.irs.gov/forms-pubs/about-form-709
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