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You are allowed to receive two $6,000 gifts in a year without

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claiming that as income on...
You are allowed to receive two $6,000 gifts in a year without claiming that as income on your taxes, correct?
Submitted: 7 years ago.Category: Tax
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2/1/2010
Tax Professional: Mark D, Enrolled Agent replied 7 years ago
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1,304
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues
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Customer

Generally you have no reporting requirement for receiving a gift from a US giftor. However, the giftor would need to report gifts in excess of $13K to any individual using form 709. If under $13K, there would be no reporting requirement. Please let me know if you have further questions.

Regards,

Mark D
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1,304
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues
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Mark D, Enrolled Agent
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