pk
Level 15
Level 15

Deductions & credits

A small addendum to SU Carl's reply above -- whereas there is no taxation on gifts , there is a requirement to report gifts received  from a foreign person / trust  by a US taxpayer  only when the threshold of $100,000 is reached or breached. This is done on form 3520 and I believe  TurboTax supportts it.  No taxation by the USA.  Also note that if the amount is held in any foreign account with yourself as a signatory or owner , you may have to file  the FBAR and FATCA forms

Good Luck