I am a F1 student on my OPT. My parents will transfer money from outside the US to pay for my brother's education next year. Do I need to pay tax on this amount?

[salman-1995]

Amount will be > 100,000$

[Critter-3]

Gifts from anyone in any amount is NOT reported on an INCOME tax return since you did not EARN it.

If your parents are not US citizens or residents of the US, there are no US tax implications for them.

If you, as a US person, receive a gift of more than $100,000 from a foreign person, you are required to submit a Form 3520 to the IRS.  Form 3520 is an informational form only.  You do not report a gift received on your personal tax return, regardless of the amount received.

IRS Form 3520 - http://www.irs.gov/pub/irs-pdf/f3520.pdf

IRS Form 3520 instructions - http://www.irs.gov/pub/irs-pdf/i3520.pdf

http://www.irs.gov/Businesses/Gifts-from-Foreign-Person

[salman-1995]

Thank you for your reply. Since I am a non-resident alien for tax purposes (due to F1 status) I believe I don't have to fill form 3520.

Another question I had was regarding transfer of money to another non-resident on F1 status in the US. Is there any gift tax owed in this case?

[Critter-3]

If your parents are not US citizens or residents of the US, there are no US tax implications for them  NOT even a GIFT tax. 

[salman-1995]

What are the tax implications if I transfer money from within the US to another F1 student in the US? Is that considered gift money for tax purposes?