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Get your taxes done using TurboTax
As long as the gifts from foreign persons in total do not exceed the $100,000 threshold, you do not report anything on your tax return. If they exceed $100,000 in a year, you must report them on form 3520.
See this IRS article: https://www.irs.gov/businesses/gifts-from-foreign-person
‎August 14, 2020
6:00 AM