If I was given a relatively small amount of money from a relative, do I need to claim it on my taxes?

UPDATED: Sep 30, 2022

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If I was given a relatively small amount of money from a relative, do I need to claim it on my taxes?

About a month ago, my grandpa passed away and he left quite a bit of money behind to be split up between his children. For reasons I won’t go into my aunt decided to give me a small portion of her share, $1,000, and I’m

wondering if I should be worried about needing to claim it on my taxes.

Asked on February 18, 2017 under Estate Planning, Utah


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

No, such a small gift (well under the current $13,000 gift exclusion) is not treated as income and is not taxable. You need to neither report it on your tax return(s) nor pay any taxes on it. Because of how small it is, relative to the exclusion, your aunt will not need report it or have any tax consequences, either.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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