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View Full Version : If I receive money from my parents/inlaws, are these monies subject to taxation?


Mike1459
Jul 17, 2010, 06:25 PM
My parent are not US citizens or residents and do not live in the US. If monies are received from another country.

ebaines
Jul 18, 2010, 02:37 PM
Assuming that you are talking about a rreceiving a gift from your parents or in-laws, then no, there are no tax implications, at least for you in the US. Whether there are any taxes due for your parents or in-laws live is dependent on their local tax laws.