My client gave 20,000 gift to her daughterHow do I report ?how do i report on the 1040 ?

Forum|Forum|4 years ago
April 26, 2022
8 replies
16 views

also does my daughter have to report it ?

ProSeries Professional

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

Gifts aren't reportable on the 1040 anywhere. She may have a 709 gift tax return filing requirement though,

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

R

rudydianegAuthor

Level 2

what if the gift has to do with community property ?

itonewbie

Level 15

@rudydianeg Based on the questions you have asked, ~~you~~ your client may like to visit the T u r d o t a x Community for help instead as had been suggested previously. This is a peer-to-peer forum that is open only to tax professionals.

https://proconnect.intuit.com/community/user/viewprofilepage/user-id/5321

---------------------------------------------------------------------------------Still an AllStar

IRonMaN

Level 15

Your client also gave $20,000 to your daughter?

Slava Ukraini!

itonewbie

Level 15

@IRonMaN wrote:

Your client also gave $20,000 to your daughter?

That's what I was thinking... 🙄

---------------------------------------------------------------------------------Still an AllStar

Sign up

Login with SSO

Let's get you signed in

Login with SSO