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Receive money from gift tax implication
I am a US citizen and my dad (not a US citizen or not a green card holder) would like to give me some money from abroad. I have three questions: 1) Do I have to pay any tax? Is there any annual or lifetime limit? 2) My mom is a US citizen - still married to my dad. However, she doesn't have any name (or is not a co-owner) in my dad oversea bank account, where the money will be coming from. Does my mother have to pay any US tax on this because my dad is giving me money as they are married? 3) My dad is also thinking to just give my mom the money instead of me. In this case, does she have to pay any tax?
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‎June 4, 2019
12:45 PM