Ask Terry Questions Gift to me — is it taxable?

Gift to me — is it taxable?

By Terry Savage on October 13, 2019 | Wild Card

My nephew has offered to gift me $15,000. a year due to a large inheritance he received.
Will I be taxed on that? I am 72 years old and received Social Security and a small pension.
Thank you.

Terry Says

What a very generous nephew!  And NO, there will be no taxes involved — either for him or for you as the recipient!  Enjoy!!



a personal
finance question