Dear Turbo Tax Community,
May we please get your assistant on whether my wife should file a Form 3520 to IRS for 2020 return or not.
Here is the situation applying to my wife:
A nonresident alien individual (name M) sent an international wire of $50,000 to my wife on 11/19/20;
A nonresident alien individual (name X) sent an international wire of $50,000 to my wife on 12/10/20;
A nonresident alien individual (name F) sent an international wire of $50,000 to my wife on 12/23/20.
In total, my wife received $150,000 from 3 different nonresident alien individuals in 2020.
After reading Who Must File section on https://www.irs.gov/instructions/i3520, our understanding is that since she has not received more than $100,000 from just one (a) nonresident alien individual, she does NOT need to file Form 3520 to IRS.
Please let us know if our understanding is correct,
Greatly appreciated,
Leo
