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    madcornishbird's Avatar
    madcornishbird Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 11, 2008, 06:43 AM
    UK gift to US Citzen tax implications
    I am UK resident/citizen and wish to gift a US resident, a large cash gift as part of an early inheritance on my estate before I die - will the US resident be liable for tax on this in the states as it is a gift from the UK?
    Thanks
    tomder55's Avatar
    tomder55 Posts: 1,742, Reputation: 346
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    #2

    Jul 11, 2008, 06:51 AM
    It is my understanding that any gift tax is the responsibility of the donor ;not the recipient .

    Tax Rules for Gifts
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Jul 11, 2008, 09:10 PM
    In the U.S. the receiver of the gifts does not pay any taxes. Read this: Your U.S. Tax Return: The U.S. Gift Tax

    Also there is no tax on inheritances: For more information read: Your U.S. Tax Return: Tax on Inheritances
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