I received gift money from my father and brother who are non US residents,
1. Do I need to mark "Yes" on Form 1040 Schedule B Line 8. The money I received is not from a foreign Trust?
If I need to mark "Yes", in which section I need to mention. I am using Turbotax to file my tax return.
2. On the Form 3520, do I check the “Initial Return” box or the “Final Return” box? Which lines do I need to fill out to report gift money received from foreign individuals?
Thanks,
