Financial gifts only have a tax implication if they cross a certain dollar threshold. For 2014 and 2015 tax returns, the annual gift tax exclusion is $14,000. If your parents gifted you less than $14,000 per person, you don't need to report the gift as income on your tax return.The $14,000 exclusion applies to each individual separately. That means your parents can give you up to $28,000 as a couple in a year, and you won't have to worry about tax implications.inancial gifts only have a tax implication if they cross a certain dollar threshold. For 2014 and 2015 tax returns, the annual gift tax exclusion is $14,000. If your parents gifted you less than $14,000 per person, you don't need to report the gift as income on your tax return.
The Origins Of Poutine Revealed Getting to the bottom of who invented Quebec`s cheesiest dish.
Itâs become so popular that itâs readily available at certain restaurants in the U.S. (Lucky New Yorkers can get their hands on some traditional poutine at Brooklyn restaurant Mile End.) Otherwise, the dish has become so ubiquitous in its home province that even McDonaldâs and Burger King sell it as a side.