turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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.

Jt1234
New Member

International monetary gift

Will my parents or I be taxed if my parents, not us citizens, gift me, a us citizen, a monetary gift of less than $100,000 via international bank transfer?

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
Opus 17
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

International monetary gift

Under US tax law, the recipient of a gift is not taxed.  Whether or not your parents owe payment of a gift tax depends on the laws of the country where they are living.  The bank may generate an automatic report of large transfers of money, but you don't have any role in that process and it doesn't result in payment of any tax. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies