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September 1, 2024
Question

How do I report gift from multiple people aboard

  • September 1, 2024
  • 1 reply
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I receive 90k from A, 50k from B, and 30k from C and D last  year. A and B are mother and daughter, C and D has no relationship with any of the others. Should I only report gift received from A and B since they are immediate family members? Thanks!

1 reply

Employee
September 1, 2024

Donees (recipients of gifts) do not need to report gifts received (unless the gifts are property and are sold at some point).

 

Donors (the people who give the gifts) must report the gifts under certain circumstances.

September 4, 2024

I thought if I receive gift from a foreigner and if the amount is greater than 100k I have to report?

Employee
September 4, 2024