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Form 3520 for International Wire transfers as a result of gift money from parents
Hi, I have several International Wire transfers as a result of gift money from parents. Totally they exceed 100k and I believe that I need to submit Form 3520. My question is: do I need to attach the bank statements showing these international wire transfers, when I send the form by mail? Or not necessary? How should I describe these international wire transfer in Line 54(b) of Form 3520? Thanks very much!
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March 27, 2024
8:28 AM