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If you are the recipient of the gift, there is no income tax due on the gift. If you are the donor, and this is a taxable gift (not a donation or other payment) then you will need to file a gift tax form (709) available at the IRS website http://www.irs.gov/ .
You may gift up to 12k to any individual in 2006 without any gift tax reporting responsibilities. See below for additional information on gift tax:
An individual can give a gift of up to $12,000 in one year(2006) to another individual before any gift tax implications kick in. If you give above $12,000 to any one individual, you must file a gift tax return. The $12,000 is your gift tax exclusion. There is a separate 12,000 exclusion
to each person that you make a gift to. Any amount over this is applied to your lifetime limitation of 1 million dollars.
Up to 1 million dollars, there is no gift tax due, because of something called the Unified Credit. After the 1 million dollar lifetime exclusion gets used up, gift tax percentage ranges from 18-45% in 2007-2009. The highest gift tax in 2010 is set to be 35%, but Congress may change this before 2010.
Keep in mind that certain gifts are not subject to gift tax, such as to political organizations, between US resident spouses, and gifts that are made for directly to a school or medical facility or professional for tuition or medical expenses paid on behalf of another.
Also to note, any unified credit used for gift tax purposes will reduce the amount of credit that can be used for estate tax purposes.