Question
In the United States if somebody gives you money as a gift, would it be subject to tax?
1 month ago - 6 answers
Best Answer
Chosen by Asker
In the U.S. the receiver of the gift does not pay any gift tax. The donor must file gift tax return if the gift amount to an individual is more than $13,000. Any one can give gifts of up to $13,000 to any number of individuals without any gift tax.
Source(s)
by Jss
1 month ago
Asker's Rating: 
Other Answers
Yes, it is taxable if it is over a certain amount. See the website reference below. Depending on your financial circumstances, you might also have to report the gift to certain agencies, for example if you are on welfare. In reality, a lot of cash transactions are never reported to the IRS, and they probably would not notice this if the money was never actually deposited to your bank account.
by Joanna- 1 month ago
there are limits... like you give $100, no. you give $50k, yes.
by ez80227- 1 month ago
Not taxable to you no matter how much it is. If they gave you over $13K in one year, they have to file a gift tax return, and might or might not owe any gift tax.
by Judy- 1 month ago
I really don't think so case that will be Forked up..it's like the person is giving me his money so someone can collect tax from me..i mean how would the gov know that someone gave me that much not if it was snitched to em
by Eminem's Lover <3- 1 month ago
the people giving 13,000 are giving the correct answer. I received a gift for under that amount and not tax was due. You can give up to 13,000 and no tax.
by susan s- 1 month ago