I received $15,000 as a gift. Do I have to claim it?

[DS30]

No, you do not need to report or claim a gift on your income tax return. Gifted money is not considered taxable income by the IRS and no reporting requirement is necessary.

[nyinyeb]

Gifts you receive are neither taxable nor reportable.

[rebateme]

Am I correct that even though you don't have to report it, you DO have to report the interest earned on it if it was put into a separate bank account?

[xmasbaby0]

@rebateme You do not have to report a gift that you received.  If you eventually receive interest as a result of saving the gift, the interest is taxable income.   But only the interest--not the amount of the gift itself.