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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).
‎June 11, 2022
1:40 PM