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    zhao_salem_98's Avatar
    zhao_salem_98 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Sep 19, 2012, 08:09 PM
    Foreign gift tax law
    If the foreign donor gives 50K twice in separate tax years, then the donee doesn't have to report to IRS, right?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Sep 20, 2012, 03:16 AM
    The receiver of gift does not pay any tax. A foreign donor is not subject to U.S. taxes.
    You may need to file form 3520. Notice of Large Gifts Received from Foreign Persons if the amount is exceeds a limit. The form is due on the date of your return including extensions.The form is filed at Internal Revenue Service, P.O. Box 409101, Ogden, UT 84409
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Sep 20, 2012, 07:01 AM
    The limit MukatA refers to is $100K, so separate $50K gifts will not have to be reported to the IRS.
    taxesforaliens's Avatar
    taxesforaliens Posts: 649, Reputation: 117
    Senior Member
    		  
    #4

    Sep 20, 2012, 01:32 PM
    However, if there is a clear connection between these separate events and together they are above the limit, you would need to report it.
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