I've recently sent 4 wired transfers totaling $9,960. Will i get taxed for this and do i have to fill out Form 3520?
Thanks in advance.
A form 3520 is only required if you received a gift from a foreign individual that was over $100,000.
What about getting Taxed on that money. Will i taxed and do I need to report it? Thanks
No, it is not reported and No you will not be taxed on the funds that were sent.