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November 11, 2023
Question

Gift Tax (interesting case)

  • November 11, 2023
  • 1 reply
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Hi, I received over $100,000 dollars in cash and U.S Stock from my brother, who is a non resident and holds stock in a US broker.  I'll brake it down to be clear:  I received $50,000 in stable coins transfered from his crypto wallet, also he transfered around $54,000 in US Stock and cash from his broker (we use the same broker, so that was done as an internal transfer, I hold an indiviudal account and he holds a foreign individual account)

All the money he has given me as a gift was originated in his home country from a sale of a property.

Do I have to file a 3520?

 

    1 reply

    Employee
    November 11, 2023