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Gifts received from an individual are not reported on a federal tax return, regardless of the amount received.
Gifts received from a foreign individual greater than $100,000 have to be reported to the IRS using Form 3520. The form is an informational form only and not an income tax return.
Gifts received from an individual are not reported on a federal tax return, regardless of the amount received.
Gifts received from a foreign individual greater than $100,000 have to be reported to the IRS using Form 3520. The form is an informational form only and not an income tax return.
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