Hello!
I am currently filing 3520 since I got a foreign gift from my parents and grandparents for the downpayment of my house. My parents gave me a gift of 200k and my grandparents gave me a gift of 97k. Since I exceed this threshold of 100k, I will have to disclose this gift. I am a little confused about the wording of line 54.
Question 54 on 3520:
"During your current tax year, did you receive more than $100,000 that you treated as gifts or bequests from a nonresident alien (including a distribution received from a domestic trust treated as owned by a foreign person) or a foreign estate? See instructions for special rules regarding related donors.
If “Yes,” complete columns (a) through (c) with respect to each such gift or bequest in excess of $5,000. If more space is needed, attach a statement.
"
Specifically, I am confused about the bolded part. I exceed the 100k threshold -- so I answer "yes". But the confusion arises from the fact that the bolded part asks me to list each such gifts in excess of $5000. So do they want me to list all gifts larger than US$ 5000? Lastly, it also mentioned aggregated related persons, so since my grandparents and parents are related -- do I aggregate them?
