<prompt> Human: So the IRS allows gifts from parents to children to be tax free up to a limit each calendar year. Lets say my dad writes me a check for 1000 on 1230, and i mobile deposit it into my checking account that same day. Funds arent available until 5 days later. What year will that 1000 count towards?  <response>: The year that you were given the check is the year that it was income for you. when you deposit it or when it clears is irrelevant. even if you deposited it in 2017, if you dad handed it to you in 2016, its 2016 income. of course they have no way to KNOW when you dad gave it to you. 