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April 30, 2024
Question

My relative will send me 15k from a foreign country as a gift. She would send it via bank transaction (not cash). Do I need to report it in form 3520? Is this taxable?

  • April 30, 2024
  • 1 reply
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1 reply

DoninGA
Employee
April 30, 2024

You only report a gift received from a foreign person to the IRS on Form 3520 if the amount of the gift or value is greater than $100,000