Another Gift Loan Q

What is the name of your state? California

I am new and this looks like an incredible site.
Sorry if this is a repeated question..but i want to make sure.

A friend graciously gave me $10,000 in cash to help
me pay off my Visa. I went to my bank and payed off
the card. They had me fill out a form because of the size
of payment.

Will i need to report this in my tax form?
If so, is it added income or counts as 0 since it was a gift.
I believe i saw on another post anything over $11,000 has to be
reported and is Not taxable since it is a gift. Correct?
Thank you very much.

You won't have to pay taxes on the gift and one of that amount does not have to be reported. However, showing up with that much cash is very suspicious and you may have someone ask you to explain it someday.

As of 2006 any gift up to $12,000 from one person to another per year is not reportable or taxed. A gift over that has to be reported by the person giving the gift, but is not generally taxed unless over the unified lifetime credit. Search "gift tax" on www.irs.gov

Due to Homeland Security, money laundering, tax evasion, etc. banks are required to keep suspicious activity reports for amounts of money deposited or transferred that are unusual for a person, typically over $5000, but a series of smaller deposits/payments can trigger it. That does not necessarily mean that anything is going to happen, just that big brother is watching. See http://www.occ.treas.gov/sar.htm

Thank you very much guys with your response and the references!