Taxes

Asked over 2 years ago - Boston, MA

In 2011 i decided to use all my savings around $40,000.00 to try to have my genetic child using In Vitro Fertilization and a egg donor, but one of the agencies i was working with screwed me over and i had already paid the other agency $18,000.00 and in order to make up for the money i lost with the egg donor agency and not loose everything my family who lives in another country sent me by western union $8,900.00 on May 2011, $5,800.00 on July 2011 and $2,900.00 on August 2011, total amount my family sent me $17,600,00.
My questions: how the money i got from my family will affect my taxes, do i have to file this info and if yes how do i do, any special forms for that? Thanks

Attorney answers (3)

  1. Eric P Rothenberg

    Pro

    Contributor Level 12

    7

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    Answered . If your family intended it as a gift or a loan, then it makes no difference, it is neither income to you nor reportable by you.

    Eric P. Rothenberg, P.C.
    ORSI ARONE ROTHENBERG
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  2. E. Martin Davidoff

    Pro

    Contributor Level 15

    4

    Lawyers agree

    Answered . I agree it is not income to you and you do not have to report the income received as gifts.

    Marty Davidoff, emd@taxattorneycpa.com, 732-274-1600. This answer is provided for general information only. You... more
  3. Joel Jay Kofsky

    Contributor Level 14

    4

    Lawyers agree

    Answered . The gentlemen above both addressed this and I agree.

    http://www.phillyinjurylawyer.com/

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