topic Receipt of Gift from Mother in India, transferred to USA in Get your taxes done using TurboTax

Receipt of Gift from Mother in India, transferred to USA

bharatkundaje — Mon, 23 Feb 2026 10:10:57 GMT

I received $51K in Indian currency as Gift from my Mother in India, which I deposited in my bank account in India & the transferred it to my USA bank account.

I know I have to file FBAR, and since this is <$100,000 TurboTax dialogue says I don't need to enter any thing in TurboTax tax file creation. Also, since this less that $100K, I am not required to file 3520.

So, how do I report sources of these funds to IRS. which form or other ways I have to report?

Re: Receipt of Gift from Mother in India, transferred to USA

DavidD66 — Thu, 26 Jan 2023 02:12:46 GMT

If you are single (or married filing separately) and total value of assets was more than $50,000 on the last day of the tax year, or more than $75,000 at any time during the year, of if you are married filing jointly, and the total value of assets was more than $100,000 on the last day of the tax year, or more than $150,000 at any time during the year. then you must file Form 8935 as part of your tax return. If this doesn't apply to you, then there is nothing you have to report to the IRS. I recommend you get a letter from your mother documenting that she gifted you the money. You should retain that letter with your tax records.

Re: Receipt of Gift from Mother in India, transferred to USA

bharatkundaje — Thu, 26 Jan 2023 04:47:48 GMT

Thank you very much for your quick response.