If you are reeceiving no consideration for it, i.e., no goods or services, then is is a gift, not income, and no imcome tax would be due from him. You might owe gift taxes. If the gift is less than $13,000, it is exempt--no tax. If more then you should file a gift tax return, but you will not owe gift taxes unless the gift is in seven figures, because it just comes off your lifetime gift tax applicable amount. See an estate planning lawyer if the gift exceeds $13,000. (This answer does not take into account the recent tax law changes in amounts of of the exemption and exclusion.)
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(Bryant) Keith Martin
That is not the important question. If you put it in a joint account it is no longer a family inheritance in the eyes of a court. So later you could not say it was strictly yours.Ask a similar question