Form 3250 & Multiple Gifts

[kimberly-100]

Hello!

I am currently filing 3520 since I got a foreign gift from my parents and grandparents for the downpayment of my house. My parents gave me a gift of 200k and my grandparents gave me a gift of 97k. Since I exceed this threshold of 100k, I will have to disclose this gift. I am a little confused about the wording of line 54.

Question 54 on 3520:

"During your current tax year, did you receive more than $100,000 that you treated as gifts or bequests from a nonresident alien (including a distribution received from a domestic trust treated as owned by a foreign person) or a foreign estate? See instructions for special rules regarding related donors.

If “Yes,” complete columns (a) through (c) with respect to each such gift or bequest in excess of $5,000. If more space is needed, attach a statement.

"

Specifically, I am confused about the bolded part. I exceed the 100k threshold -- so I answer "yes". But the confusion arises from the fact that the bolded part asks me to list each such gifts in excess of $5000. So do they want me to list all gifts larger than US$ 5000? Lastly, it also mentioned aggregated related persons, so since my grandparents and parents are related -- do I aggregate them?

[JohnW152]

Yes, list each of the gifts or bequests received that exceeds $5,000. 

According to Line 54 in the Instructions for Form 3520 (2022):

If you answered “Yes” to the question on line 54 and none of the gifts or bequests received exceeds $5,000, do not complete columns (a) through (c) of line 54. Instead, enter in column (b) of the first line, “No gifts or bequests exceed $5,000.”

And, yes, you aggregate the gifts from your grandparents, since they're related.  Line 54 of the instructions also states:

To calculate the threshold amount ($100,000), you must aggregate gifts from different foreign nonresident aliens and foreign estates if you know (or have reason to know) that those persons are related to each other (see Related Person, earlier) or one is acting as a nominee or intermediary for the other. For example, if you receive a gift of $75,000 from nonresident alien individual A and a gift of $40,000 from nonresident alien individual B, and you know that A and B are related, you must answer “Yes” and complete columns (a) through (c) for each gift.