If I recieve a gift of 10,000$ when I deposit it will I have to pay fed. tax on this money. Its a gift?

No need since this is not part of your monthly income. But, what you need to know is where is this money coming from. Is it a legal or illegal sum of money?

Yes you will! Once you deposit a check for $5000.00 or more the bank is required by law to report it to the IRS. Your better off only depositing less at a time.

Thus sayeth the U.S. Supreme Court:"Income may be defined as profit or gain derived from labor, from capital, or from both combined."A gift does not seem to fall within that definition. But if you ask the IRdouble-thunderbolts ( naziSS) they will say any money you get from anywhere is income. but they will not want to discuss what the definition of income is.So it depends on how hard you want to fight. Now's your chance. Strike a blow for Freedom!

You will not pay any taxes because it was a gift but once you deposit the money, you will start paying taxes on the interests/dividends.

If the gift is less than $10,000; say $9,000 and the giver reports that amount as a gift, then the giver should already have paid the taxes that are due and you will have no tax liability. However, if the giver does not report it as a gift on their tax return then you are liable for any taxes that might be outstanding. This should be discussed with a tax professional.

No, the recipient of a gift doesn't pay tax on it.