Ask Terry Questions Receiving money as a gift

Receiving money as a gift

By Terry Savage on January 27, 2022 | Wild Card

Thank you Terry for taking my question.
Can I receive gifts from multiple people without reporting it.
My uncle passed and let me 4500.00 in 2021
My brother also passed and left me 15000.00, the 2 combined is over the allowed amount for 2021. Do I claim the overage or can I get gifts from multiple people in one year? Thank you.

Terry Says

First, sorry for your losses this year. Those gifts are not taxable. You do not have to report them anywhere! Enjoy!!

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