Do I have to show proof of a gift when I receive wire transfer from foreign country?

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Do I have to show proof of a gift when I receive wire transfer from foreign country?

It would be advisable to get a letter from the donor making clear that the transfer was a gift, with no promise or expectation of repayment. You won't need to file it with your taxes, but it would be good to have if the IRS or other government agency inquires about the source of the funds.

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Do I have to show proof of a gift when I receive wire transfer from foreign country?

It would be advisable to get a letter from the donor making clear that the transfer was a gift, with no promise or expectation of repayment. You won't need to file it with your taxes, but it would be good to have if the IRS or other government agency inquires about the source of the funds.