Deductions & credits


@enrique55 wrote:

If I receive $100k deposit from a family member what tax implication might this have for me?


Assuming you are a U.S. person receiving a gift from another U.S. person, you have no reporting requirement as a result of receiving a $100,000 cash gift.

 

The donor (person who have you the $100,000) will be required to file a gift tax return (Form709).