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  • Are gifts I received taxable 2024?

    Gifts taxable gift

    Questioner:James Rodriguez 2023-05-07 14:54:10
The most authoritative answer in 2024
  • Isabella Young——Studied at the University of Amsterdam, Lives in Amsterdam, Netherlands.

    Gifts are neither taxable or deductible on your tax return. Any gift to an individual that exceeds $14,000 in a year requires a separate gift tax return to be filed (form 709) by the giver - the receiver of the gift does not report anything. It will not be immediately taxable, but will reduce your lifetime exclusion.read more >>
    +119962023-05-10 14:54:10

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