The Question
Do I pay any taxes on a check from my parents?Do I pay any taxes on a check from my parents?
Parents giving me a $40,000 check. Do I pay any taxes on it?
The IRS could potentially come after you for the tax if the donor doesn’t pay, but usually the tax burden falls on the person who gave you the gift. To correct the above statement slightly. In 2025, the limit is actually $19,000 per individual and $38,000 for a married couple filing jointly (source).
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