turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I borrowed 110K from my relatives overseas. They are NOT US residents at all. This is not a gift, but kinda of a loan instead. What form should I file to report?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MinhT
Expert Alumni

I borrowed 110K from my relatives overseas. They are NOT US residents at all. This is not a gift, but kinda of a loan instead. What form should I file to report?

You do not report a personal loan on your tax return, even from a foreign person.

If this is a gift from a foreign person for more than $100,000, you'll need to file form 3520 independently from your tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question