Hello,

THanks for you great advices and suggestions.

I have a question?

If your friend gives you some money as gift like around $15,000

Do we need to pay taxes on it? If yes how much tax do we need to pay


Thanks for your help.

You owe NO taxes on the gift.

However, the giver may owe taxes, because the amount exceeds the $11,000 annual gift tax exemption.