What are the tax implications for a parent gifting a down payment?

Hello everyone! My father wants to help my husband and I purchase a home (600k home price) with a gift of the 20% down payment (120k). Does anyone know what the tax implication would be for my father?? We are in NY. Thank you

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source https://www.reddit.com/r/RealEstate/comments/126l1ot/what_are_the_tax_implications_for_a_parent/