What is the reporting requirement for receiving stocks/property/cash from parents as gift? Any difference if parents are not US residents?
01209
1 Replies
Corrlich44
Level 5
Nov 16, 2022 3:55:39 PM
Hi Carrie23,
Anyone, especially a child, can receive a gift from a parent. Only the Parent is subject to Gift Tax Requirements as the Giver, not the Receiver, regardless of where the Giver lives.