Monty & Melonie - I'm confused! You mean the person who gave you money (and was originally taxed on the money) has to pay another tax on it -- a gift tax (if over $10,000 in a year)? What they gave you the money in cash -- say $1,500 or so a month?If the money isn't classified as a loan, then the next logical way to look at it is as a gift. If that is the case then you don't have to claim it as income. However, if the amount is over a certain threshold ($10, 000 per year ? - Monty ?) then your father may have to pay gift tax on that money. Seeing as how that money is in a joint account, the gift scenario would probably only apply to any money that you have withdrawn/written checks on, and not the entire balance.
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