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    hockey1954's Avatar
    hockey1954 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 30, 2011, 07:14 AM
    Do I have a tax liability for gift from canada to us citizen?
    My wife received a gift from an uncle in Canada of $100,000.
    We file jointly in the US she is a US citizen.
    Our joint income is $250,000
    Will she have any tax liabilty for this gift
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Dec 30, 2011, 11:59 PM
    In US the receiver of the gift does not pay any tax. And since the donor is not a US citizen or resident, your uncle need not worry about US taxes.
    However, you may have to file Form 3520 Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. Your U.S. Tax Return: The U.S. Gift Tax
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