Domestic cash gift to H1B visa holder

[Anonymous]

I am a H1B visa holder (US person for tax purposes) and my parents are planning to send me 400k from overseas to help me purchase a home. They are considering two solutions:

- Direct wire transfer from their foreign bank account to my US bank account but this is complicated because subject to strict local regulations from my parents' country

- Ask a US friend to pay me directly as a gift and they will pay him in foreign currency in the foreign country

I'd like to know if in the second case, as the receiver, do I need to worry about taxes, outside the fact that I need to file the form 3520 to the IRS? Is there a risk this cash gift from a non-relative could be considered "income" (overseas income?) to some sort and thus threaten my H1B status?

[GeorgeDenseff]

A gift is not taxable income.

[Anonymous]

Then someone on H1B could possibly have undeclared (and unauthorized under H1B) income by having people "gifting" him instead of paying him? I want to know if there is a chance USCIS/IRS could misinterpret this gift and suspect me of having other income