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-   -   Overseas gift for purchasing home (https://www.askmehelpdesk.com/showthread.php?t=490278)

  • Jul 20, 2010, 05:17 PM
    SIMBRIAL
    Overseas gift for purchasing home
    Hello,
    I'm here with a G1 visa . My mother who is not US citizen and not a green card holder, is planning to send me some money from her country, Italy. The gift is going to be used as a down payment to buy an apt. Is there any procedure I should follow with the IRS (I pay taxes in my foreign country as I work for an International organization in the US), or my mother in Italy? What is the amount max she can send me in the US?
  • Jul 21, 2010, 02:01 AM
    MukatA

    In the U.S. the receiver of the gift does not pay at gift tax.
  • Jul 21, 2010, 01:03 PM
    AtlantaTaxExpert
    There are NO tax consequences for this gift.

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