Hi RR 53.
In most cases, Assets that you receive as a gift or inheritance are not taxed at the federal level. If, however, the money is placed in an account and produces income, you will be taxed on that income. In the US, Each individual can receive gifts from outside of the US up to $100,000 with no requirement. If the income exceeds $100,000, the amounts must be reported on Form 3520 to the IRS
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