I am a green card holder and currently self-studying for medical licensure exams (therefore no enrollment in any program/institution) and I am supporting myself through money sent by my parents (also green card holders) on a monthly basis from their bank account in India, do I have to file any taxes in the US? The money is being sent from an Indian bank account (theirs) to a US bank account (mine) from their income earned in India which is already taxed there. Does the situation change for me or them in any way if they become joint holders on my US bank account?
You'll need to sign in or create an account to connect with an expert.
You don't need to file an INCOME tax return since you had no income ... gifts from anyone is not taxable income to be reported on a return.
Your parents may need to file a gift tax return since they gave you more than $30K in 2018 ( $28K in 2017)... form 706 is not support by TT and you will need to file a form 3520.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
djstu
New Member
cindy_popowich
New Member
luca590815
New Member
JWolf
Level 2
jean0211
New Member