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I received money gift from parents (US citizen) overseas. They filed form 709 for the money they sent. Do I have to report this in my tax return? Which form do I use?
I received a 1099-INT from the money I received so I know I have to file that but since they're US citizens, does the $200,000 they sent still have to be reported because it was from an overseas account? Everything I read online only mentions Non-US citizens gifting money to US citizens/residents so I have no idea if that rule applies to my situation as well.
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‎June 6, 2019
5:48 AM