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-   -   Money transfer from foreign country to US (https://www.askmehelpdesk.com/showthread.php?t=677407)

  • Jul 1, 2012, 12:13 AM
    jasminedeng
    Money transfer from foreign country to US
    Hi, my dad is in foreign country and he would like to wire the money to me to buy a house. Can he wire the money to my account for purchasing a house? Will I be asked where and how the money com form? Can you please give me some advice? Thank you so much.
  • Jul 1, 2012, 12:34 AM
    jasminedeng
    And do he or I have to fill the tax? It is something like a gift from dad to daughter. Thank you.
  • Jul 1, 2012, 02:51 AM
    MukatA
    In the U.S. receiver of the gift does not file gift tax return or pay gift tax. If your father is a foreign alien, he is not covered by U.S. taxes and he does not pay any gift tax or gift tax return.
    If the amount of gift is over $100k, you need to file Form 3520.
  • Jul 2, 2012, 07:33 AM
    AtlantaTaxExpert
    If you determine you need help with the Form 3520, email me at the email address in my profile.

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