Hi,

If I (resident alien for tax purposes) receive a gift of around USD30K from my father (neither a U.S citizen nor a non resident alien) as a wire transfer from his foreign currency account overseas to my US bank account do I need to report it in Form 3250? Also what is the implication on the state taxes (New Jersey)?

Thanks,
Vasan

No, it is not taxable and you do not file Form 3520.

Thanks for the advice. Will there be any implication on state level?

No, there is NO gift tax at the state level.

That solves my problem. Thanks so much.

Glad to help!