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If you receive a gift from a US individual it is not reported on a tax return, regardless of the amount received.
If the gift received is from a foreign individual the gift has to be reported to the IRS if greater than $100,000 using Form 3520. This is an informational form only and not a tax return.
The giver of the gift has to complete an IRS Form 709 if the gift given to a single individual in a year is greater than $14,000
If you receive a gift from a US individual it is not reported on a tax return, regardless of the amount received.
If the gift received is from a foreign individual the gift has to be reported to the IRS if greater than $100,000 using Form 3520. This is an informational form only and not a tax return.
The giver of the gift has to complete an IRS Form 709 if the gift given to a single individual in a year is greater than $14,000
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