@shkumar100 wrote:
Thank you. It is a gift. But one more clarification. My dad is a green card holder while I am a citizen. Will he get taxed on this gift if he send it to me?
No, he will not be taxed if the total of all gifts ever given by him is not more than $12 million dollars. However he must file a Form 709 with the IRS since he is a US resident. The Form 709 is used to report the gift given to the IRS.
IRS Form 709 - https://www.irs.gov/forms-pubs/about-form-709
So, since he is a US resident you do NOT report the gift received on your tax return AND you do not have to file a Form 3520 for the gift received.
