Claiming Gifts

[Baby Beluga]

My understanding is that if a family gives us a gift we need to claim it on taxes, correct?

I have a family who gave me $230 cash as a Christmas gift. When I give them their end of year receipt do I include the $230 in their total tuition paid for 2015, or is there a separate place when I file where I claim that gift amount?

[TomCopeland]

gifts

My understanding is that if a family gives us a gift we need to claim it on taxes, correct?

I have a family who gave me $230 cash as a Christmas gift. When I give them their end of year receipt do I include the $230 in their total tuition paid for 2015, or is there a separate place when I file where I claim that gift amount?

Yes, money or gift cards given to you by parents is income you must report. Include this as part of their total child care costs when giving them a receipt.

[Baby Beluga]

Thank you Tom!