Deductions & credits

First and foremost, bank transfers from your personal foreign bank account to your personal US bank account are not reported on a federal tax return.

That being said, if you are receiving money from parents living in China, please see the information provided below for specific instructions on how to file this:

"Per IRS guidance (https://www.irs.gov/businesses/gifts-from-foreign-person), gifts from a "foreign person" are generally excludable from gross income unless they exceed certain limits, in which case the recipient must file a Form 3520.  Here's an excerpt from the above link stating those requirements:

"You must file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, if, during the current tax year, you treat the receipt of money or other property above certain amounts as a foreign gift or bequest.  Include on Form 3520:

Gifts or bequests valued at more than $100,000 from a nonresident alien individual or foreign estate (including foreign persons related to that nonresident alien individual or foreign estate);

or 

Gifts valued at more than $15,601 for 2015 (adjusted annually for inflation) from foreign corporations or foreign partnerships (including foreign persons related to the foreign corporations or foreign partnerships)." 

Further,

"A U.S. person is:
A citizen or resident alien of the United States (see Pub. 519, US Tax Guide for Aliens, for guidance on determining resident alien status),
A domestic corporation,
Any estate (other than a foreign estate, within the meaning of section 7701(a)(31)(A)),  and any domestic trust (defined earlier)"

So, in your case, unless your parents gave you more than $100,000 in 2016 (or are acting on behalf of a foreign corporation), then you do not have to report the income on your tax return.