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What would you expect to pay in income taxes if you were given $25,000?


Would you pay taxes on the whole thing - or the amount above what is allowed for gifts?

If you received it as a gift then there is no tax to you. The giver would have to fill out a gift tax return, as the yearly amount you can give for a gift without having to file a gift tax return is $12,000. But no tax to you.
The giver has to pay the gift tax - it's all free to you
Generall speaking, if someone gives you money it is not taxable. Howeve, if the gift later produces income, that income would be taxable. You will need to read the tax code to be certain.
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