Quote Originally Posted by Midtowner View Post
It's a gift, so the first lifetime $5MM is not taxed.
Isn't the individual 'gift' exemption limited to $13,000 (in a single gift from a single person). The CEO of the company said they have to report the transaction but only those who gave more than $13,000 (?) would be subject to the gift tax. Considering then average gift was only $20, I think virtually everyone is safe.

She can deposit it and pay no taxes, but any earnings from the money will be subject to taxes.