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Dbla
Jan 1, 2015, 03:50 PM
Gifted money from overseas but gifter wants to remain anonymous. Money will come into a US account. Is this even possible

AtlantaTaxExpert
Jan 1, 2015, 04:40 PM
Yes, no problem.

If the gift amount is LESS than $17,000, you do not even have to submit any reports/returns.

IntlTax
Jan 3, 2015, 05:36 PM
Money laundering?
Scam?
From a corporation? (Threshold for reporting on 3520 is $15,601)
Not a gift in substance?
Not sure where the $17,000 number that ATE mentions comes from?

AtlantaTaxExpert
Jan 3, 2015, 06:49 PM
Traveling, so I cannot research the gift tax exemption amount, but I thought it went up to $17K.

I will yield to IntlTax on the Form 3520 threshold.