Do gifts include baby shower, wedding, “get well,” or sympathy gifts that are not evenly exchanged?
Yes. And, the gift must be reported if: (1) the value of the gift exceeds the $200 threshold amount; (2) the recipient takes official action that may affect the donor of the gift; and (3) the gift is not covered by an exception to the reporting requirement. The exception in the Gifts Reporting Law for exchanges of equal value given on holidays or special occasions covers only reciprocal gift-giving within the reporting period.
