@DaveF1006
Hello Dave,
I hope it's ok that I ask a relevant question on form 3520. My spouse and I will file 2022 tax jointly. He received money gifts wired from his family outside of the US. One was wired in 2022 from his dad(neither US citizen nor US permanent resident) and the amount is lower than $100k. The other one was wired in 2022 from his grandma (neither US citizen nor US permanent resident) and the amount is lower than $100k. Both money gifts were wried from the foreign bank. The total of these two gifts exceeds $100k.
For the case, should we still file form 3520? These two gifts were from two individuals separately, and each of money gift is lower than $100k. My understanding to IRS' webpage form 3520 is that we don't need to file.However, the sum is over $100k. So, I'd like to check again with the expertise to confirm if my understanding is correct. Thank you!
