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

    Mar 23, 2016, 02:17 AM
    H visa gift tax question
    I'm on a H4 visa right now. My parents wire transferred me over $100k in 2015 to invest real estate. I filed form 3520 for it. We are going to do the purchase soon. The question is if the real estate is to be put under my parents names, do I owe the gift tax since I pay for it? Is there any way to return the money to my parents without the tax since it really doesn't make sense.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 23, 2016, 07:27 AM
    If you reported the $100K transfer as a gift on the Form 3520, amend the Form 3520 to show the money for what it is: a business investment that you are managing.
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