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Get your taxes done using TurboTax
If the value of the gift is over $100,000 then you have to report the gift from a nonresident to the IRS using Form 3520. No taxes will be incurred for this gift.
TurboTax does not support IRS Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts
Go to this IRS website for the Form 3520 and instructions - https://www.irs.gov/forms-pubs/about-form-3520
‎February 20, 2024
9:20 AM