does gifted money affect my tax bracket or end of year taxes

[joaniejans]

Does gifted money affect my tax bracket or taxes at the end of the year?

[drc845443]

I have assumed that you are the one that received the money.

If you receive money as a gift, you do not have to pay tax on the amount, and therefore it does not impact your tax bracket and tax return.

The person who gave you the money may have to pay gift tax if the amount exceeds the annual limit set by the IRS for that year.  ($17,000 for 2023). The gift tax is a separate tax and is not income tax. Here is a link to a resource that your giver may find helpful:

 Frequently Asked Questions on Gift Taxes | Internal Revenue Service (irs.gov)