Just received a 33,000 dollars gift how can I paid taxes on that money

[DoninGA]

A gift received is not reported on a tax return, regardless of the amount received.

[NicolleR1]

The gift taxes are paid by the Donor of the money. If you received it this year (2025), the tax won't be due until next year.

[et2861]

Thank you.

What I meant to ask is I cancelled my life insurance policy and was given the cash value of the policy of 33,000.

[DawnC]

If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than the cost of the life insurance policy.  In most cases, your cost (or investment in the contract) is the total of premiums that you paid for the life insurance policy, less any refunded premiums, rebates, dividends, or unrepaid loans that weren’t included in your income.

Your insurance company can easily provide this information to you.   Generally, you report the taxable amount based on the type of income document you receive, such as a Form 1099-INT or Form 1099-R. 

Interactive Tax Assistant - Are my surrendered life insurance proceeds taxable?

Life Insurance & Disability Insurance Proceeds

The taxable amount, if any, can be reported in TurboTax as Other Miscellaneous Income > Other reportable income.   Search for other reportable income and use the Jump to link to be taken to that section of TurboTax.