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Get your taxes done using TurboTax
Gifts received are not reported on tax return.
If you received a gift from a foreign person, not a US citizen or US resident, and the gift is greater than $100,000 then you need to report the gift received to the IRS on Form 3520. The Form 3520 is Not a tax return and gift is not taxable. The Form 3520 is an information form only. It needs to be filed with the IRS on or before April 17, 2023 for a gift received in 2022.
TurboTax does not support IRS Form 3520.
Go to this IRS website for Form 3520 - https://www.irs.gov/forms-pubs/about-form-3520
‎January 9, 2023
11:01 AM
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