I am an H1 B Visa holder and looking out to buy a house in US. My parents who are in India is planning to send gift money towards my down payment. Is there a limit on how much i can get and whether this would be taxable on my returns?
I read this https://www.irs.gov/businesses/gifts-from-foreign-person, but it mentions under the section "Business & Self employed". Is it the same for Individuals?
