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-   -   Taxes on money received as gift from abroad (https://www.askmehelpdesk.com/showthread.php?t=180585)

  • Feb 5, 2008, 09:53 AM
    teramera
    Taxes on money received as gift from abroad
    Hello,
    If I were to receive some money as gift from abroad
    a) do I need to declare the money in my US tax returns?
    b) will there be tax implications?

    Thanks for your help,
  • Feb 6, 2008, 02:19 PM
    AtlantaTaxExpert
    a) No.

    b) Not if the amount is under $10,000. If it exceeds $10,000, you may have to submit a report to the IRS stating from where it came.

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