Hello, my dad (Non-US Citizen) would like to give me (I am a US Citizen) and my wife 50k for our new house, he does not have the cash but is going to sell one of his properties in Mexico to a US company and the US company will send the money to my account. Do I need to report this transaction? Is it still consider a gift?
I have been trying to look online but I could not find any information.
My dad will pay all the reportable taxes in Mexico.
Thanks for the help!
