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-   -   Tax question concerning overseas money (https://www.askmehelpdesk.com/showthread.php?t=806457)

  • Jan 1, 2015, 03:50 PM
    Dbla
    Tax question concerning overseas money
    Gifted money from overseas but gifter wants to remain anonymous. Money will come into a US account. Is this even possible
  • Jan 1, 2015, 04:40 PM
    AtlantaTaxExpert
    Yes, no problem.

    If the gift amount is LESS than $17,000, you do not even have to submit any reports/returns.
  • Jan 3, 2015, 05:36 PM
    IntlTax
    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?
  • Jan 3, 2015, 06:49 PM
    AtlantaTaxExpert
    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.

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