My parents are from Spain, and are not US Citizens or residents. They are Spanish citizens/residents. If they wire me 200K as a gift, what do I need to do/report? I live in MD and I'm a US citizen. I would really appreciate it if anybody knows and takes the time to asnswer :) Thanks

The value of gifts that you receive is not taxable to you.

A transfer of that size WILL need to be reported on Form 3510, but ebaines is correct in his assertion that the transfer itself is NOT taxable.