Short and Simple You're the best. So grateful for you. Yay for you! You're a really great human. You deserve all the nice things. Spend it on something you love! Just a little something from me to you. Get whatever you want!
Happy 18th, Name! You are a rare treasure, radiating beauty, kindness, and strength. As you step into this new chapter, may your heart be filled with dreams, your days with laughter, and your life with endless love.
Gifts given to an individual are not reported on a tax return. If the gift given is over $15000 in 2021 then the giver of the gift must report the gift on IRS Form 709. There will not be any taxes owed on the gift if the total of all gifts ever given were less than $11.7 million.
All gift tax returns must now be filed using Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return PDF.
Ing to IRS regulations, if the aggregate amount received from the nonresident exceeds $100,000 during the taxable year, the gift needs to be reported. No taxes are due; this is just a filing/reporting requirement.
Gift ideas for an 18-year-old can range from practical items like noise-canceling headphones, a quality backpack, or a journal to fun options like a quirky board game (Cards Against Prythian or Cards Against Potter could be a hit) or a gift card for their favorite store or hobby.