What kind of taxes would you have to pay in the US if someone just gives you a million dollars?

Question

What kind of taxes would you have to pay in the US if someone just gives you a million dollars?

Answer 1

If  you literally mean GIVES, as in a true gift, you wouldn't have to pay any taxes.

The giver would have to file a gift tax return, and would probably owe taxes on it.  If this the first (and only) large gift that person has ever given...then they wouldn't owe any gift taxes either.

Answer 2

I think you still have to pay a gift tax on it.  Not sure

Answer 3

they have a limit on the amount a gift can be so that it is tax free sorry i dont remember the number but its way less than a million so itlll proly get taxed heavily

Answer 4

as a gift? Some,but dont know how much. Now, if you EARNED a million bucks, then that creates a whole other can of worms...first you have to pay moocho dollars in tax(way more than probibly anyone you personally know)...then of course you'll have to live with the constant barrage of attacks from liberals who claim you don't pay enough taxes!!(even though you and others like you are carrying the bulk of the US taxs)..or you can never try and do  better and stay in the poverty level, and let the average tax payer subsidise your life for you.  That ought to be gratifying huh?