Question

I gave gifts to my co-workers at times and supervisors.

Forum|Forum|1 year ago
February 9, 2025
1 reply
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CORRECTION: I DID NOT, charge them any money for the gifts.

Employee

Gifts given are not reported on a tax return, nor are gifts received reported on a tax return, regardless of the amount or value of the gift received.

F

fellynbalAuthor

I had more information on the 1st posting, but I made a mistake saying on the lines that I took money for the gifts, but I meant to relay that I did not take money for the gifts.

Would I need to report any of the FMV of the gifts on any of my tax returns or does that depend why I gave the gifts?

And at least one lady I gave her a space heater for her or and her mother, it was Used but in good shape, it was mine. After that she was sharing her trashbags that maybe she bought and brought to work for her trashcan, she at time(s) would put them in my trash can too. Not for sure, but maybe she considered herself paying me for the space heater I gave her, but I did not require her to pay me for the heater, so would that be considered Bartering or and any kind of taxable income that needs to be reported to IRS or and the State of New Jersey?