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    jasminedeng's Avatar
    jasminedeng Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jul 1, 2012, 12:13 AM
    Money transfer from foreign country to US
    Hi, my dad is in foreign country and he would like to wire the money to me to buy a house. Can he wire the money to my account for purchasing a house? Will I be asked where and how the money com form? Can you please give me some advice? Thank you so much.
    jasminedeng's Avatar
    jasminedeng Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Jul 1, 2012, 12:34 AM
    And do he or I have to fill the tax? It is something like a gift from dad to daughter. Thank you.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Jul 1, 2012, 02:51 AM
    In the U.S. receiver of the gift does not file gift tax return or pay gift tax. If your father is a foreign alien, he is not covered by U.S. taxes and he does not pay any gift tax or gift tax return.
    If the amount of gift is over $100k, you need to file Form 3520.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Jul 2, 2012, 07:33 AM
    If you determine you need help with the Form 3520, email me at the email address in my profile.
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