rudydianeg
Level 1
04-26-2022
05:35 PM
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also does my daughter have to report it ?
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Just-Lisa-Now-
Level 15
04-26-2022
05:48 PM
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Gifts aren't reportable on the 1040 anywhere. She may have a 709 gift tax return filing requirement though,
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
rudydianeg
Level 1
04-26-2022
08:50 PM
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what if the gift has to do with community property ?
itonewbie
Level 15
04-26-2022
09:23 PM
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@IRonMaN wrote:
Your client also gave $20,000 to your daughter?
That's what I was thinking... 🙄
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Still an AllStar
Still an AllStar
itonewbie
Level 15
04-26-2022
10:40 PM
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@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
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Still an AllStar
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Just-Lisa-Now-
Level 15
04-27-2022
09:37 AM
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Community property between the parent and child? I dont understand.
Gifts, don't go on the 1040 anywhere.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Gifts, don't go on the 1040 anywhere.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Taxprohere
Level 7
04-27-2022
11:19 PM
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I don't charge any of my clients....and they all end up giving me gifts! 🤔😉🤣