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Megi123
New Member

Gift

I want to send a gift to my nephew who lives overseas. It will be intl wire transfer from bank to bank in the amount of $ 16000. Do I have to pay the tax and report this transfer to IRS.

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last updated ‎April 25, 2025 8:20 PM
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DoninGA
Level 15
Level 15

Gift

Gifs given in the amount of $18,000 or less are not reported on a tax return and are not reported to the IRS on Form 709.

2 hours ago
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