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    pluto100's Avatar
    pluto100 Posts: 1, Reputation: 1
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    #1

    Feb 7, 2012, 07:12 PM
    Taxes on cash gift from foreign parents from their US accounts.
    Do you have to pay taxes if you receive a cash gift of <100,000 from your foreign parents but from their US accounts.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 7, 2012, 07:18 PM
    The receiver of gift does not pay any tax. If the donor is a not a U.S. citizen or resident, the donor does not pay any U.S. taxes. Your U.S. Tax Return: The U.S. Gift Tax
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