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beansailors44
March 5, 2020
Question

Can I claim a deduction for a monetary gift to my son of 14000.00?

  • March 5, 2020
  • 1 reply
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1 reply

DoninGA
DoninGA
Employee
March 5, 2020

Gifts given to an individual are not reported on a tax return.  Gifts received from an individual are not reported on a tax return, regardless of the amount received.

 

Since the gift given was not greater than $15,000 there is no requirement to file a gift tax return, Form 709.

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