Gift taxing from family

[waterbottle10]

Hello is it true if a family member like mom give you a million dollar check its not taxable for giver or receiver unless it goes over 5.4m in the lifetime? This is what I read but it seems a bit hard to believe that the IRS would be this nice. Am I understanding this right.

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[deleted480308]

Hello is it true if a family member like mom give you a million dollar check its not taxable for giver or receiver unless it goes over 5.4m in the lifetime? This is what I read but it seems a bit hard to believe that the IRS would be this nice. Am I understanding this right.

If you google "gift tax" it's answered in the search results. You don't even have to click on any results

 

[anbuitachi]

I wouldn't just always trust the google search results

 

[Lanekane88]

If you really need to know about this. Just try what the OP said. lol

 

[politeness]

I wouldn't just always trust the google search results

I do not trust google that much.