topic Form 3520 from parent in Get your taxes done using TurboTax

Form 3520 from parent

gryphusone — Tue, 24 Feb 2026 07:29:23 GMT

Each of my parent (both are NRA) give me gift of $50k so since they are related the total reaches $100k.

So my first question will be that do I file one 3520 with both transactions listed or two separate 3520 and if have to be 2 forms can I mail them together in one envelope ?

Then both transactions are wire transfer of cash from foreign person , so I only need to fill part IV right ?

Although I will be filing tax return jointly with my wife , the 3520 form is not jointly as both transactions were from my parent is that correct ?

Do I need to attach any notice or receipt from bank?

Thanks

Re: Form 3520 from parent

Anonymous_ — Sat, 02 Sep 2023 19:21:16 GMT

Threshold question: Is the gift exactly $100,000 or more than $100,000?

You would need to file Form 3520 in the event of the latter.

See https://www.irs.gov/instructions/i3520#en_US_2022_publink1000190314

Re: Form 3520 from parent

gryphusone — Sat, 02 Sep 2023 21:06:28 GMT

It's exatly $100,000. But I heard that it will be safer file even if it is near the threshold .

In case I want to file , do I need to file 1 with both or 2 separate ?

Thanks

Re: Form 3520 from parent

Anonymous_ — Sat, 02 Sep 2023 21:27:37 GMT

One. The gifts are in the aggregate.

Re: Form 3520 from parent

GaLu — Tue, 07 Nov 2023 11:47:39 GMT

Thanks for the helpful answers.

What if my wife and I receive gifts from say, 3 unrelated foreign citizens, $50k each. So the total is $150k, but from 3 separate unrelated transactions. Does that trigger 3520 requirements?