SpaghettiEd
Returning Member

Do my parents have to deal with taxes if they gift me $500,000?

My parents are not US citizens, and do not live in USA. However I'm an US citizen and do live in the states.

They plan to sell some land and gift me some of the proceeds (around $500,000), could they just wire me the sum? Any tax complications for my parents (probably not from US but their own country) or me?

 

Thanks,