When sending money to my parents abroad via Western Union, should I label it as a GIFT or family support/living expenses as purpose of transfer? I'm unsure because I'm contributing to building their house, and the amounts are larger than usual. Also, if I've sent $17,420 annual remittance and label it as Family support/living expenses in the purpose of transfer. Money was sent every month or weeks based on the needs of the construction, do I need to report it? I am a US citizen and the source of sending the money is not from loan and the source is from the private property we sold recently here. Thank you in advance for answering my questions!
