Form 3520. Do I have to fill 1(d) and include my husband's name under 1(a) even if foreign gift was only made to me? We are filing a joint 2016 income tax return

Forum|Forum|7 years ago
June 3, 2019
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I received a foreign gift (cash) and need to file form 3520 part IV. I'm married and filing a joint 2016 income tax return. However, gift was only for me and transferred to my personal bank account. My husband did not receive any gift. So, do I still have to include his SS in 1(d) and include his name under 1(a)?

Anonymous

If you were the recipient of the foreign gift necessitating the filing of Form 3520 (and you and your husband did not receive it jointly), as you indicate in your question, then the answer to your question is as follows.

Enter just your name alone in the information section of 1(a). Enter you husband's Social Security Number in section 1(d). For clarification, please see the attached screen-capture image at the bottom of this text; simply click the image to open.

Then, after completing the rest of the first page of Form 3520, you can complete Part IV for the particulars of the gift.

The good things about Form 3520 are that there is never any tax directly due when filing it, and that it can be mailed (filed) separately from the rest of your income tax return.

Thank you for asking this question.