I’ll get a gift from my grandp. in GER ($120k). They’ll transfer it to my GER bank account & I’ll transfer it to the US. It’s tax free in Germany but what about the US?

fischertommasi — Mon, 17 Nov 2025 21:49:03 GMT

It’s a gift, not an inheritance. As said it’s tax free in Germany and I would transfer it from my own account in Germany to my own account in the US

Re: I’ll get a gift from my grandp. in GER ($120k). They’ll transfer it to my GER bank account & I’ll transfer it to the US. It’s tax free in Germany but what about the US?

Opus 17 — Mon, 17 Nov 2025 21:57:43 GMT

If you are a US person for tax purposes (citizen, green card holder, or resident alien) then gifts are not taxable to the recipient. However, there are two reporting requirements you must follow.

1. If you own or control a foreign bank account that has more than US$10,000 equivalent at any time in the year, you must file an FBAR report.

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

2. If you are a US person who receives a gift from a foreign person of more than US$100,000 in a year, you must file form 3520 to report it. There is no tax owed. This is filed separately, it is not part of your annual tax return, and Turbotax does not support this form, you will have to fill it out and mail it in yourself. https://www.irs.gov/businesses/gifts-from-foreign-person

topic I’ll get a gift from my grandp. in GER ($120k). They’ll transfer it to my GER bank account & I’ll transfer it to the US. It’s tax free in Germany but what about the US? in Get your taxes done using TurboTax

I’ll get a gift from my grandp. in GER ($120k). They’ll transfer it to my GER bank account & I’ll transfer it to the US. It’s tax free in Germany but what about the US?

Re: I’ll get a gift from my grandp. in GER ($120k). They’ll transfer it to my GER bank account & I’ll transfer it to the US. It’s tax free in Germany but what about the US?