Gift taxes Hi,
My sister received a gift from my father ( she is planning to use some of it as tuition fees). As soon as she received it, she transferred it to our joint account. Also, I received a gift (also from my father). Both gifts are over the gift limit (I think 13000$). I am planning to declare this gift in my tax return. However, do I need to pay tax on the gift I received or on both of them? The same question for my sister? |