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View Full Version : Money transfer from foreign country to US


jasminedeng
Jul 1, 2012, 12:13 AM
Hi, my dad is in foreign country and he would like to wire the money to me to buy a house. Can he wire the money to my account for purchasing a house? Will I be asked where and how the money com form? Can you please give me some advice? Thank you so much.

jasminedeng
Jul 1, 2012, 12:34 AM
And do he or I have to fill the tax? It is something like a gift from dad to daughter. Thank you.

MukatA
Jul 1, 2012, 02:51 AM
In the U.S. receiver of the gift does not file gift tax return or pay gift tax. If your father is a foreign alien, he is not covered by U.S. taxes and he does not pay any gift tax or gift tax return.
If the amount of gift is over $100k, you need to file Form 3520.

AtlantaTaxExpert
Jul 2, 2012, 07:33 AM
If you determine you need help with the Form 3520, email me at the email address in my profile.