Gifted real estate in foreign country

[kman9]

I migrated to US and is a citizen now.

My parents still live in the country I migrated from and they gifted me pice of real estate (land) last year. 

Do I have to file any tax forms for this asset?

I don't get any income from this property.

[DoninGA]

If the value of the gift is over $100,000 then you have to report the gift from a nonresident to the IRS using Form 3520.  No taxes will be incurred for this gift.

TurboTax does not support IRS Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts

Go to this IRS website for the Form 3520 and instructions - https://www.irs.gov/forms-pubs/about-form-3520

[kman9]

Thanks!