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

    Mar 29, 2009, 04:21 PM
    Foreign Gift tax
    I received 200K foreign gift. How can I transfer back to US? Is there any tax implication? What forms I need to file?

    Thanks
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Mar 29, 2009, 04:31 PM

    In the U.S. the receiver of the gift does not pay any tax. You will need to file Form 3520.
    Read Your U.S. Tax Return: The U.S. Gift Tax
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