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The $70,000 is a gift to you and not taxable or reportable on your tax return.
No other reporting is required since the amount is less than $100,000. See https://www.irs.gov/businesses/gifts-from-foreign-person
The $70,000 is a gift to you and not taxable or reportable on your tax return.
No other reporting is required since the amount is less than $100,000. See https://www.irs.gov/businesses/gifts-from-foreign-person
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