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wellywench
Mar 23, 2009, 04:26 PM
Hi there,
I'm a Green Card Resident from the UK, married to a US Citizen since May of last year. My father who is also English and living in England, wants to send some money over that we can use as a deposit on buying a house. Where do we stand tax wise? And would he be liable for tax if the amount as the amount will be over $13,000 per person?
Thanks in advance!

MukatA
Mar 23, 2009, 05:43 PM
If your father is a foreign person, then he does not pay taxes in the U.S. No he does not have any gift tax liability.
In U.S. the receiver of gift does not pay any tax. You may have to file Form 3520. Read more about gift tax Your U.S. Tax Return: The U.S. Gift Tax (http://taxipay.blogspot.com/2008/03/us-gift-tax.html)

wellywench
Mar 24, 2009, 03:50 PM
If your father is a foreign person, then he does not pay taxes in the U.S. No he does not have any gift tax liability.
In U.S. the receiver of gift does not pay any tax. You may have to file Form 3520. Read more about gift tax Your U.S. Tax Return: The U.S. Gift Tax (http://taxipay.blogspot.com/2008/03/us-gift-tax.html)


Thanks for your help MukatA :)