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Gift

My wife got a gift of about $4500 from her mother who lives in India. Do I need to report it and if so where in TT.

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2 Replies

Gift

Gifts received from an individual are not reported on a tax return, regardless of the amount received.

The gift received from a foreign person only has to be reported to the IRS if the amount of the gift is over $100,000.

Gift

Thanks

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