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-   -   If I receive money from my parents/inlaws, are these monies subject to taxation? (https://www.askmehelpdesk.com/showthread.php?t=489282)

  • Jul 17, 2010, 06:25 PM
    Mike1459
    If I receive money from my parents/inlaws, are these monies subject to taxation?
    My parent are not US citizens or residents and do not live in the US. If monies are received from another country.
  • Jul 18, 2010, 02:37 PM
    ebaines

    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.

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