Grandma gave me a cash gift more than $100K to my foreign account (balance $2 before gift transfered in) , I later transfer all balance including cash gift to my U.S. account (self to self). Which follwoing way is correct filing for my case:
1)Only check mark form 3520 in Form 8938 Part IV + Mail out form 3520+ eFile Form 114
(TurboTax told me do not list the account in 8938 if file 3520)
2) Form 8938 list all cash amount received, also check mark 3520 on Part IV in form 8938 + Mail out 3520 + eFile Form 114
3) Only list cash amount in my foreign account, DO NOT check mark 3520 in Part IV + eFile Form 114
My tax advisor had only seen people got foreign gift to U.S. bank directly, so she told me that I do not need to file 3520 if the foreign gift to my Foreign account. Appreciate if some one can help me with my case.
