Gift

Forum|Forum|11 months ago
April 26, 2025
1 reply
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I want to send a gift to my nephew who lives overseas. It will be intl wire transfer from bank to bank in the amount of $ 16000. Do I have to pay the tax and report this transfer to IRS.

Best answer by DoninGA

@Megi123 As a US citizen you are not required to report a gift given to an individual person if the gift given is $18,000 or less during the tax year. Even if the gift given is to a non-US person.

DoninGA

Employee

Gifs given in the amount of $18,000 or less are not reported on a tax return and are not reported to the IRS on Form 709.

Megi123Author

Thank for your response. I just want to verify with you that this rule applies to me (US citizen)when I send gift money to family member ( non US citizen) who lives in foreign country.

DoninGAAnswer

Employee

@Megi123 As a US citizen you are not required to report a gift given to an individual person if the gift given is $18,000 or less during the tax year. Even if the gift given is to a non-US person.