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My son received social security benefits of $ 22,248.00 in…

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My son received social...

My son received social security benefits of $ 22,248.00 in 2017. I gave him $ 39,500 to help him with his expenses. Does he have to report that income to the IRS ?

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My son received social security benefits of $ 22,248 in 2017 because he has a disability. I gave him $ 39,500 to help with his expenses. Does he have to report that income from me to the IRS on his 1040 form ?

Accountant's Assistant: Is there anything else important you think the Accountant should know?

I did not report it as a gift from me on my form to the IRS.

Submitted: 29 days ago.Category: Tax
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3/25/2018
Tax Professional: Richard, Tax Attorney replied 29 days ago
Richard
Richard, Tax Attorney
Category: Tax
Satisfied Customers: 56,580
Experience: 29 years of experience as a tax, real estate, and business attorney.
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Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

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Tax Professional: Richard, Tax Attorney replied 29 days ago

Good afternoon. He does not. Pursuant to Section 102 of the Internal Revenue Code, a gift is specifically not considered income and does not need to be reported as such. In addition, a recipient of a gift has no reporting obligation with regard to a gift either.

Thank you so much for allowing me to help you with your question. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

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Tax Professional: Richard, Tax Attorney replied 29 days ago

Just following up. My screen indicates that you have not reviewed my response. Please let me know if you did not receive it so I can re-send it if necessary. Thank you!

If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

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