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A
auntmard
April 4, 2025
Question

If a family member paid for my prescriptions, can the price of them be counted on my taxes?

  • April 4, 2025
  • 1 reply
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    1 reply

    KrisD15
    KrisD15
    April 4, 2025

    Yes, if they "gifted" you the money and you purchased the prescriptions. 

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    B
    Brandon-ish
    April 5, 2025

    Hello, KrisD15! How would someone go about filing this type of "gift?" Would this be under a certain line number on a regular 1040 tax form, Schedule C, or perhaps a 1099? Or are there places on each of these forms to list "gifts" received? 

     

    Thanks in advance for your response! I appreciate your help!

    A
    AnnetteB6
    April 5, 2025

    As the recipient of the gift, you would not report this on your tax return.  

     

    If the gift was greater than the annual gift limit, then the giver should report it on a Gift Tax Return.

     

    Take a look at the following TurboTax help article to learn more:

     

    Where do I report a cash gift?

     

    @Brandon-ish 
     

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